Public Sector Pensions Reform - About friggin time..

[Lord Bracknell]

for an officer retiring after 30 years on a salary of £30,000 cost to the tax payer is about £470,000 of which the PC has paid about £13,000 (share of tax/NI used for public sector pensions)

... ignoring, of course, TWO facts ...

1. The 11% that the officer has been paying from his salary for his entire working career (which was what the question was);
2. The fact that every single penny of salary that the police officer has ever been paid has come out of the pocket of taxpayers. But, hey! that's what makes the police force a public service. Would we rather it was paid for out of jumble sale proceeds?

 

[nicko31]

I think that most of us have an idea of the true cost of working in the public sector, with lower wages. Most of us have contributed a % of our salaries since we started working in the public sector. The problem is all those in the private sector that haven't set up or contribute to a pension (62% are not saving for their retirement) so why am i paying for them? This is where the major cost of the ageing population will come from.

Yes the public sector pension is reasonable, in the main. But, all who will have a reasonable pension have contributed for at least 30 years to make it so good. The main issue, when quoting politicians is that they are desperate for us to see things in black and white, but sadly it is more complicated than that. I am not contributing to my own pension for 30 years to lose its benefits to pay for all the private sector who don't.

You're so far off the mark, I can't be bothered to respond.

 

[m20gull]

... ignoring, of course, TWO facts ...

1. The 11% that the officer has been paying from his salary for his entire working career (which was what the question was);
2. The fact that every single penny of salary that the police officer has ever been paid has come out of the pocket of taxpayers. But, hey! that's what makes the police force a public service. Would we rather it was paid for out of jumble sale proceeds?

Not 1 - the cost of the pension has had his contributions deducted. I'll put it another way - the cost of his pension is about £570,000 of which the officer has paid about £100,000 in direct contributions and a further £13,000 in tax payments.
Not 2 either - of course the police is publicly funded. The debate that Hutton is provoking is whether you are prepared to pay retired officers an income for not being a police officer from age 50 or 55. And if 30 years ago you thought it was OK to pay them for 25 years, are you now happy to pay them for 40 years instead? Or do you want a shift of the balance?

 

[Castello]

You're so far off the mark, I can't be bothered to respond.

oh dear i'm going to stay up all night wondering what gem of an opinion i'm going to miss.