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Public sector pensions to undergo dramatic overhaul

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If our population is 85000 then we're the lowest on the whole list.

True, you've actually made me worry about something I wasn't really worried about. That is a really low percentage of actual workers. No wonder without the VAT money we don't generate anywhere near enough as an economy to wash our face.

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They should be moving benefits to career average too. And contributions should be 15%. Cap benefits.

 

That Neil in the comments section is full of it. Must be a union thing.

Edited by notwell

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They should be moving benefits to career average too. And contributions should be 15%. Cap benefits.

That Neil in the comments section is full of it. Must be a union thing.

If you read that dispelling myths document which doesn't dispel any myths at all you can see where the Union is coming from. The simple fact is that IOMG workers don't want to pay any more into the scheme as they don't see any benefit to them of paying in. They don't see any benefit for them as they just expect it all to be provided free so that they don't have to pay anything. Quite why they feel that they have to say that its not a Ponzi scheme when any pay as you go scheme operates like a Ponzi scheme (money in, feeding money straight back out) is open to debate. A state sponsored Ponzi scheme is fine though as the whole population is forced to pay into it, and can't stop contributing through taxes and wages so it's fine. People clearly have no confidence in the scheme (or IOMG) if they have to explain that sort of stuff. Contrast that with private sector workers where if you set up a final salary scheme tomorrow they would be queuing up to chuck money into it - 10%? Yes no problem that's cheap. Can I make AVCs on top as well?

Edited by thesultanofsheight
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So how many people on the island, in total, actually work for government full-time and/or part time?

Not including contractors.

And then, how many contractors are there on top?

Serious question...how many?

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Went to Tesco today and it looked like the population had crossed 100000 . :-(

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Went to Tesco today and it looked like the population had crossed 100000 . :-(

 

Well I went to Shoprite today and I reckon there's about 50,000 people living on the island.

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Went to Tesco today and it looked like the population had crossed 100000 . :-(

I went to that Tesco's with the missus the other day. Well it's only up the quay from the Legion. Them fellas buying stuff in there. Not one of them was a Manx fella. I said to the missus. I bet they all live under the trees at the nunnery. In tents and that. Hundreds of them there were. Like them fellas you see on the telly. You know the ones that jump out of wagons and that? Them illegal immigrants. That's all you see in that Tesco's. Them and load of jousters. With their trolleys full of strawberries and champagne and that. Mincing up the aisles. Looking for fairy cakes. It's no place for a proper Manx fella. I prefer the Legion. No jousters and immigrants in there. Just proper Manx fellas.

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Well retail activity is down 20% electricity consumption is down 18% means the population has grown 20%.

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Well retail activity is down 20% electricity consumption is down 18% means the population has grown 20%.

 

Made up rubbish !

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How so, Teare said the Tesco tax was 20% short MUA say usage down 20% instead of the predicated 4% growth per annum required just to keep our heads above water how is that made up rubbish?

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How so, Teare said the Tesco tax was 20% short MUA say usage down 20% instead of the predicated 4% growth per annum required just to keep our heads above water how is that made up rubbish?

 

Believe it if you want to, but I don't see retail down like that at all.

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Well retail activity is down 20% electricity consumption is down 18% means the population has grown 20%.

 

Made up rubbish !

 

Is it? The 20% electricity consumption reduction is about right but someone made the valid point that modern equipment is much less power hungry so that will be a factor. Retail activity is well down but there is a lot of internet buying.

 

The one that really doesn't compute with me is that we are told number employed is down by thousands but the population is up by thousands. Unless we have drafted in thousands more millionaires and retirees how does that work?

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How so, Teare said the Tesco tax was 20% short MUA say usage down 20% instead of the predicated 4% growth per annum required just to keep our heads above water how is that made up rubbish?

 

Believe it if you want to, but I don't see retail down like that at all.

Well that was his excuse for the shortfall for the Tesco tax.

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He simply overestimated.

Plus you shouldn't underestimate the swing in sentiment away from tesco since he made those forecasts.

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