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Government Pensions - Should There Be A Limit?


manxy
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I've noticed on many threads that there seems to be a big difference in pensionable sizes and would therefore like to ask -

Should there be a limit as to how much a person receives for the rest of their life - or not?

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We can no longer seek to emulate terms & conditions for 'civil servants' in the UK government

 

A thorough re-appraisal of how we do things is required, with as much work as possible put out to community/social enterprises

 

Let's use those funds currently used to finance the bloat to invest in local growth & development

 

Government should only provide those services that can't reasonably be provided by someone else

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Oh, there are some fuckwitted fuckwits that I was at school with who are soon to retire with around a £grand a week in their pocket for the rest of their days. They are not worn out or had any stress and they could be drawing that for a good 40-50 years at least.

 

See Greece for details.

 

But we won't have EU and other big boys backing us up. The Greeko Governmental retirees (many still young by today's standards) are hit last though.

 

The Isle of Man will not have that luxury. Roll on the day the VAT funded reserves run out. Then we will see the level playing field, although by then today's CS/PS will have retired off the Island to roads that were sandy in far off climes like their predecessors did.

Edited by RonnieD
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I'd agree with most Civil Servant pensions. However, whilst the Police pension is fantastic they have been paying 12% contributions towards theirs which has now risen to 15%. Most Civil Servants have been paying 0-2%. But as the link says, its not their fault, it is what they signed up too.

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I'd agree with most Civil Servant pensions. However, whilst the Police pension is fantastic they have been paying 12% contributions towards theirs which has now risen to 15%. Most Civil Servants have been paying 0-2%. But as the link says, its not their fault, it is what they signed up too.

 

Whitley Council Members have been putting in 5% and now I pay 8%, I do think that the lump sum should be limited. To be honest everything is % based and this is completely biased to top earners, how is it right that someone on £70k gets £35k per year when retired when they have zero responsibility the same as someone who empties bins.

 

I'm not sure what the solution is but there must be one. All this talk of unfair disparity between Government employees and Private sector employees is not balanced, when I joined the Government in more affluent times I actually took a pay decrease, it was only from 2008 when we entered into austere times that the ratio closed and Government employees even overtook private sector counterparts in places.

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I'd agree with most Civil Servant pensions. However, whilst the Police pension is fantastic they have been paying 12% contributions towards theirs which has now risen to 15%. Most Civil Servants have been paying 0-2%. But as the link says, its not their fault, it is what they signed up too.

 

Whitley Council Members have been putting in 5% and now I pay 8%, I do think that the lump sum should be limited. To be honest everything is % based and this is completely biased to top earners, how is it right that someone on £70k gets £35k per year when retired when they have zero responsibility the same as someone who empties bins.

 

I'm not sure what the solution is but there must be one. All this talk of unfair disparity between Government employees and Private sector employees is not balanced, when I joined the Government in more affluent times I actually took a pay decrease, it was only from 2008 when we entered into austere times that the ratio closed and Government employees even overtook private sector counterparts in places.

 

The true cost is around 23-24% of salary according to a friendly financial advisor so bear in mind that even at 8% were still putting nearly double in than you are.

 

 

I accept that, the ratio is the same as when I was at Manx Telecom though, I paid in 5% and MT paid in 10%, again that was public money of a sort when you think about it, the 10% would have been taken from profits which is from customers (the public), a profit we provide by paying more than we should, not a lot different to Government.

 

In fact it's all pretty much the same, there's loads of companies/corporations where we the customer are paying well over the odds for a service/product which in turn [provides increased dividends for shareholders and bigger bonuses for the already very well paid and yet very little gets said about that, people are just focusing on the Government when in fact it's all the same, everything is public money.

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I'd agree with most Civil Servant pensions. However, whilst the Police pension is fantastic they have been paying 12% contributions towards theirs which has now risen to 15%. Most Civil Servants have been paying 0-2%. But as the link says, its not their fault, it is what they signed up too.

Whitley Council Members have been putting in 5% and now I pay 8%, I do think that the lump sum should be limited. To be honest everything is % based and this is completely biased to top earners, how is it right that someone on £70k gets £35k per year when retired when they have zero responsibility the same as someone who empties bins.

 

I'm not sure what the solution is but there must be one. All this talk of unfair disparity between Government employees and Private sector employees is not balanced, when I joined the Government in more affluent times I actually took a pay decrease, it was only from 2008 when we entered into austere times that the ratio closed and Government employees even overtook private sector counterparts in places.

The true cost is around 23-24% of salary according to a friendly financial advisor so bear in mind that even at 8% were still putting nearly double in than you are.

 

I accept that, the ratio is the same as when I was at Manx Telecom though, I paid in 5% and MT paid in 10%, again that was public money of a sort when you think about it, the 10% would have been taken from profits which is from customers (the public), a profit we provide by paying more than we should, not a lot different to Government.

 

In fact it's all pretty much the same, there's loads of companies/corporations where we the customer are paying well over the odds for a service/product which in turn [provides increased dividends for shareholders and bigger bonuses for the already very well paid and yet very little gets said about that, people are just focusing on the Government when in fact it's all the same, everything is public money.

No it isnt thats a totally false argument. The fact is the taxpayer funds 100% of your salary and 60% of your pension and that simply does not happen in the commercial world. Businesses can spend what they like on employee benefits and price their products however they want as customers can choose to use any other company they want if they think they are being ripped off. The taxpayer is stuck with just chucking money at the public sector whether it spends money sensibly or not and whether it over pays or over compensates people or not. It is not the same. Thats why businesses dont offer final salary pensions - their consumers couldn't afford to meet the costs of doing so.

Which is why there most definitely has to be transparency, accountability and some form of 'Freedom of Information Act'.

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The answer for young people in both the Isle of Man and the UK is to get the hell out of the place, so that that you don't end up working your whole life to fund public sector pensions of a magnitude that they have no hope of achieving for their own pensions. Yep, I would really love to pay taxes for my whole working life to keep Bell, Howard Quayle and Bill Henderson in retired luxury

 

Leave, let the reserves run out, and maybe return once the pension liabilities have been restructured. It is important that those who are responsible for the money running out (Bell in particular) feel the consequences of their failure, and live their lives in the same penury that they condemn others to.

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Thats where we agree. I don't begrudge people for the benefits they get but some appreciation of the privileged position they are in and the cost to other people should exist. As should good governance and responsibility / accountability for spending public money sensibly.

Good governance of public funds is essential it is a very noble and privileged position to be in, to be entrusted with other people's money, well that is trust right there, I along with many others do feel privileged and appreciate what is done for us in return, we don't have a perfect system and can never really have one, I spoke with a colleague the other day and 70% seems to be the general expectation of efficiency, work rate etc.

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The fact is the taxpayer funds 100% of your salary

 

That does imply that CS are not taxpayers :-)

The difference being that tax on CS salaries isn't the same as tax on profits/earnings in the commercial market.

 

It's Govt giving with one hand and taking back with the other and classing both as the same in economic terms is a bit of a red herring.

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The fact is the taxpayer funds 100% of your salary

 

That does imply that CS are not taxpayers :-)

That's one argument that grabs my piss. It's a cyclical one too that very soon disappears up its own arse.

 

Anyway, whatever remains in the reserves, the Civil Servants will be the very last, if ever, to feel the pinch. What shreds of our economy exist when the reserves run out will be used to pay and pension their lavish lifestyles here and those swanning it abroad on golden pensions.

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