Jump to content
Manx Forums, Live Chat, Blogs & Classifieds for the Isle of Man
ManxTaxPayer

Public sector pensions to undergo dramatic overhaul

Recommended Posts

10 minutes ago, Non-Believer said:

How did the Irish system get round any perceived legal challenges?

they had the nads to say this is it, tough shit. and any legal challenges could be swilled around the courts ad infinitum  like opposing lawyers letters in a divorce until the money has gone.

  • Like 2
  • Thanks 1

Share this post


Link to post
Share on other sites
23 minutes ago, WTF said:

they had the nads to say this is it, tough shit. and any legal challenges could be swilled around the courts ad infinitum  like opposing lawyers letters in a divorce until the money has gone.

And they had lenders standing there with a bail out that they needed or the lights would go out. We haven't reached that stage so the circus goes on.

Share this post


Link to post
Share on other sites

So the new DC scheme is voluntary and it’s going to fix everything apparently. So when you start work they say “You’re entitled to a DB pension schemes as part of your contract, but voluntarily you can opt for a shitter one instead. Which one do you want?” 

Share this post


Link to post
Share on other sites

A DC scheme is potentially more attractive to younger workers who won't be spending 30+ years with IOMG. It would allow flexibility with contributions and would be much more portable for a mobile workforce. The member of the scheme can also control how his or her funds are invested. To write it off as "shitter" as you so eloquently put it, it not correct. Its different.

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites

That nearly ranks alongside the time notwell explained to us that zero hour contract were actually a really good thing for me those on them. I take it you are the right side of the drawbridge

  • Haha 1

Share this post


Link to post
Share on other sites

Far easier for CoMin to get the taxpayer to fund the deficit

Twats

  • Thanks 2

Share this post


Link to post
Share on other sites
3 hours ago, the stinking enigma said:

That nearly ranks alongside the time notwell explained to us that zero hour contract were actually a really good thing for me those on them. I take it you are the right side of the drawbridge

No - I was bored and read the report. It claimed that the average IOMG pension was in the region of £8500 which certainly doesn't indicate a workforce of long stayers. On the flipside however, the consultants who prepared the report were well versed in their field and no doubt have an eye on the design and sale of any future DC scheme.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×