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Biggest Threat To Future Of Iom


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With regards to pensions, would it make sense if there was a cap on how much pension a person received and means testing it?

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hehe...captured for posterity:  

Allan Bell and his merry men are quite simply spending what they should be saving, and moreover, raiding the piggy bank of reserves too - all to fund £320M on government wages and salaries alone, let

Why not force all cs pensions to be FULLY funded by the employee. That is the case with my pension provision - ie what I save is mine, no tax payer is now or in the future has a commitment to my pensi

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No it wouldn't. That is because we live in a greedy, greedy World Island.

 

Using the - not so extreme - real example I used previously, a person works for 40 years and then retires on a 50% (of final salary don't forget) pension for 40 years. Plus the lump sum (and that is LUMP SUM).

 

Even if they contributed 10% to that pension pot, the figures just don't add up, do they.

 

But hey, it's their contract of employment and they can balance their conscience by focussing on a few days or weeks or even months of their career that was maybe a bit 'stressful'. They deseve a good, lucrative, money-laden retirement, don't they?

 

But who actually pays for it?

 

Well in our case, considering the worth/value that has actually been input to society, it is the UK VAT overpayment that pays it. And thank the Lord for that eh!

 

So, get it while you can you Isle of Man Government empoyees (including police et al). Take your wheelbarrows down to the pension cash handout.

 

The Isle of Man....where you jolly well just can.

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No it wouldn't. That is because we live in a greedy, greedy World Island.

 

Using the - not so extreme - real example I used previously, a person works for 40 years and then retires on a 50% (of final salary don't forget) pension for 40 years. Plus the lump sum (and that is LUMP SUM).

 

Even if they contributed 10% to that pension pot, the figures just don't add up, do they.

 

But hey, it's their contract of employment and they can balance their conscience by focussing on a few days or weeks or even months of their career that was maybe a bit 'stressful'. They deseve a good, lucrative, money-laden retirement, don't they?

 

But who actually pays for it?

 

Well in our case, considering the worth/value that has actually been input to society, it is the UK VAT overpayment that pays it. And thank the Lord for that eh!

 

So, get it while you can you Isle of Man Government empoyees (including police et al). Take your wheelbarrows down to the pension cash handout.

 

The Isle of Man....where you jolly well just can.

Just doesn't seem right Ronnie, just doesn't

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I think there needs to be a big education programme so that people are told how the pension scheme works. Most people don't really think about it.

 

And the universal pension scheme they have introduced in England seems like a good first step.

 

Everybody needs to be in a pension scheme and contributing from the time they start work.

Edited by Moghrey Mie
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Wasn't the NI pot raided for the new Hospital? Was the money ever replaced and if not shouldn't it be using some of our much talked of 'reserves'?

 

Of course it doesn't help that Govt is 'incentivising' it's employees to retire early to get head count down - they then become net claimants not contributors.....

As I remember it wasnt described as a raid (except on Mannin line) but it was stressed that it was a loan. Not heard of anything being paid backchris.gif

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Wasn't the NI pot raided for the new Hospital? Was the money ever replaced and if not shouldn't it be using some of our much talked of 'reserves'?

 

Of course it doesn't help that Govt is 'incentivising' it's employees to retire early to get head count down - they then become net claimants not contributors.....

As I remember it wasnt described as a raid (except on Mannin line) but it was stressed that it was a loan. Not heard of anything being paid backchris.gif

 

There was a large surplus which was used for this. http://www.isleofmanpensionersassociation.com/background.htm

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Yes if they weren't paying some pensioners an extra 50% the government would save some money.

 

But the pensioners would squeal if it was taken from them now.

 

The IOM government made a rod for their own back without thinking about the consequences. Have I heard that somewhere before?

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Yes if they weren't paying some pensioners an extra 50% the government would save some money.

 

But the pensioners would squeal if it was taken from them now.

 

The IOM government made a rod for their own back without thinking about the consequences. Have I heard that somewhere before?

The Manx pension supplement is not guaranteed. This has been stated by Eddie Teare and others previously.

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Wasn't the NI pot raided for the new Hospital? Was the money ever replaced and if not shouldn't it be using some of our much talked of 'reserves'?

 

Of course it doesn't help that Govt is 'incentivising' it's employees to retire early to get head count down - they then become net claimants not contributors.....

As I remember it wasnt described as a raid (except on Mannin line) but it was stressed that it was a loan. Not heard of anything being paid backchris.gif

I believe this was the money the intellectual colossus that was Tony Brown described as " the new hospital cost us nothing"

 

Bell of course was part of this stupidly profligate regime which he is now doing his best to forget !!!

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The insolvent pension scheme is no doubt a huge future problem but it isn't the biggest problem. Nor is Bell, he is an irritation. The biggest problem that we face in the longer term is the absence of any sustainable means of earning what must spend in the global market place in order to buy in what we need.

 

For years we have done rather well providing shady and immoral finance services mostly used by individuals and corporations to avoid paying taxes that while avoided in strictly legal terms were avoided in hugely immoral terms.

 

Now we seem to be creaming the scum off the distasteful 'E Gambling' market but just as the tax dodging opportunities are being eliminated by governments around the world so 'E Gambling' WILL be frozen out by governments.

 

Our biggest problem is what are we to do that will earn the money that we need to even survive and even identifying the possible options will need movers and shakers who look beyond their own self interests, and that rules out the vast majority of the present crop of MHK's and the rather worrying LC.

 

We have a very large pachyderm in our dining room.

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Hey Spook...No one has a sustainable means of earning....everyone has to continually adapt to the ever changing marketplace.

 

80% from all business leaches off the tangible things people make and sell, and 80% of what is actually made in the world is actually unnecessary and effectively crap.

 

And where do you draw the line on 'immoral earnings'? Sweets that rot childrens teeth? fatty foods? e-gaming? selling cigarettes? lawyers charging too much? taking huge percentages on pension investments? ...blah blah blah blah blah...

 

...even plumbers and electricians and charities end up with the proceeds. Ergo...plumbers, electricians and charities etc. are money launderers in your immoral world smile.png

Edited by Albert Tatlock
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hehe...captured for posterity:

 

bell_threat.jpg

He looks like an American chat show host. Maybe thats what he'll do when his political career is over?

 

As usual he talks some sense, and then goes off and does absolutely nothing at all to change all the things he points out are bad and need changing.

 

The biggest threat to the Isle of Man is its own government at the moment.

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