Albumen
Don't wait for me!
Don't quite know what you mean by that question, Albumen.
Please clarify.
You are not in favour of public sector pensions, and you are a pensioner. I was merely asking whether your pension has worked for you.
Don't quite know what you mean by that question, Albumen.
Please clarify.
It was a start, pensions are still double the education budget and costs are still rising. Its not just the public sector, we have the triple lock too (a grey vote bribe)
So it's OK for Tories to say 'Public sector pensions are too high compared to private sector pensions, and so should be reduced accordingly.'
But if a Lefty says: 'Bosses and bankers' salaries are too high compared to those of ordinary workers, and so should be reduced accordingly (through a salary cap or pay-ratio)' that is denounced as 'the politics of envy', levelling-down, and Communism.
What typical Tory hypocrisy!
Pete, bang the political drum, if you like, but the fact remains that this really isn't a party political argument.
Level heads from both sides of the political spectrum are rightly concerned about the cost of today's pensions and those of future generations.
What have public sector pensions got to do with the state pension?
Got a link to that stat?
You are not in favour of public sector pensions, and you are a pensioner. I was merely asking whether your pension has worked for you.
So it's OK for Tories to say 'Public sector pensions are too high compared to private sector pensions, and so should be reduced accordingly.'
But if a Lefty says: 'Bosses and bankers' salaries are too high compared to those of ordinary workers, and so should be reduced accordingly (through a salary cap or pay-ratio)' that is denounced as 'the politics of envy', levelling-down, and Communism.
What typical Tory hypocrisy!
A lot of the worry is because most the next generation haven't got a pension.
Well, as my three offspring are concerned, the cost of housing .....renting or buying is higher up the list of priorities than a pension ,at the moment!
Poor buggers, it was a lot easier when I was their age.
A lot of the worry is because most the next generation haven't got a pension.
http://www.ukpublicspending.co.uk/uk_total_spending_pie_chart
2017, 11% education, 20% pensions.
And go back 10 years and it was 13% on education, 17% on pensions.
My son is a firefighter, and contributes 11% of his salary to his pension, whereas a lot of private pension contributions are 4%.
As you say, the wages in the public sector are lower than the private sector.
Well, as my three offspring are concerned, the cost of housing .....renting or buying is higher up the list of priorities than a pension ,at the moment!
Poor buggers, it was a lot easier when I was their age.
Your general point is correct, but I think it's a bit more complex than you suggest, isn't it?
Firstly, in nearly every case a public sector pension will also be partly paid for by the contributions made by the public sector employer (in turn funded through taxation) - so partly taxation funded
Secondly, some public sector pensions are 'funded' in the sense that (whether or not they are defined benefit or defined contribution) the pension is paid out of a fund that has been built up from the employer and employee contributions and invested. I think that teachers and local authority pension schemes are like this (again partly taxation funded, because the employer contributions essentially come directly from a public budget). Other public sector pension schemes, even though the employees may have paid contributions do not actually pay the pensions out of a fund built up from those contributions, but just pay them out of the general current government budget (itself funded by current taxation) - I think the civil service pension scheme for Whitehall departments is like this - so 100% taxation funded, if I understand correctly
Thirdly the occupational pension schemes for many public sector workers are actually private pension schemes. So, for example, the Universities Superannuation Scheme is one of the largest private sector schemes and (was defined benefit in the past, but is moving rapidly to be a defined contribution scheme). In that sense it's no different from the occupational pension schemes of large private companies (except that it's a multi-employer scheme, with lots of universities in membership)
My public sector pension was paid for by my monthly contributions and by the fact that my pay level was lower than what I might have earned in the private sector.
State pensions are paid for out of general taxation.
See my post, immediately above.Your public sector pension also has contributions made by your employer, the public sector, your portion of payments in is probably less than half of what goes into your public sector pension contributions.
General taxation is public funds.