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Government Pension Tax


Yin & Yang
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21 hours ago, Rog said:

Over here the Pension Protection Fund provides for those in defined pension schemes though there are some relatively minor conditions to be met.  Just sayin'.

Only pension protection fund here is the gov running an unsustainable pension scheme, yet they would  not bail out a local fund in trouble through  no fault of their own

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3 hours ago, Andy Onchan said:

Is it a condition of employment that a new CS has to contribute to an IOMG pension? Can a new employee refuse to sign up??

why would they refuse??  whatever the terms it will be better than the joe public option

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A reverse-local tax would be a great idea, in every area.

Want your benefits? Want your free education? Want help from the IOM worker? Then stay here and spend it.

100% pensions for Manx residents, 50% if you're moving away. 100% Uni fees paid for Manx Residents, 50% if you move away.

What's up with that?

Edited by parchedpeas
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Has the IOM CS/PS ever been rightsized and roles appropriately graded?

When the UK realised they were being royally ripped off VAT-wise Mr Brown had the ideal opportunity to create a CS/PS that was fit for purpose.

He unashamedly ducked the issue and now the populace at large have to pay for his complete and utter lack of reality and leadership. Unfortunately that includes those who can't afford it.

I guess the original blame lies with those who devised a system where the CM is always a compromise candidate. Hence you end up with the Mr Brown style of governance that represents his "compromise" terms of reference.

I am sometimes astonished that we give that clown show our money to fritter away seemingly on a whim....

Edited by P.K.
Really piss-poor grammar. Sorry...
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I wonder if Brown had any real grasp of what was due to blow our way after the VAT clawback announcement? Any right-thinking politico (or even business person) would have crunched hard figures and planned for the loss of 1/3rd of Govt income.

Brown introduced new headed Departmental A4 in keeping with a reshuffle that did precisely nothing. And most of which has since been scrapped. No grasp whatsoever.

And then he ran for the pension. And has sat on his arse, comfortably supported ever since.

Comfortably supported by us. Along with the rest of his now retired colleagues who were equally culpable. 

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17 hours ago, parchedpeas said:

A reverse-local tax would be a great idea, in every area.

Want your benefits? Want your free education? Want help from the IOM worker? Then stay here and spend it.

100% pensions for Manx residents, 50% if you're moving away. 100% Uni fees paid for Manx Residents, 50% if you move away.

What's up with that?

I worked away for many years and paid NI to IOM , plus tax but still considered resident so i am entitled to my pension, as i was employed via IOM 

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The issue is that the Manual Workers have always paid into their pension, up until fairly recently that was at 5% but has risen to near 10% and will no doubt rise again. However, the civil servants never paid a penny in until recently when GUS was implemented, the payments into the pension is in line with manual workers as all government employees are now classed as public servants. What should happen is, the ex civil servants (not manual workers) should be deducted the amounts they should have paid into the pension whilst they were in employment but that will never happen.

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2 minutes ago, yootalkin2me said:

The issue is that the Manual Workers have always paid into their pension, up until fairly recently that was at 5% but has risen to near 10% and will no doubt rise again. However, the civil servants never paid a penny in until recently when GUS was implemented, the payments into the pension is in line with manual workers as all government employees are now classed as public servants. What should happen is, the ex civil servants (not manual workers) should be deducted the amounts they should have paid into the pension whilst they were in employment but that will never happen.

Yes. And when the various schemes were unified they simply raped the pension schemes that were liquid components of GUS in order to try and prolong the non-contributory element. Much to answer for, methinks. 

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1 hour ago, Hugh Jampton said:

A reduction in civil servants could be achieved by just using UK bank notes and coins and UK passports.

Mmm. Probably two services that bring in more than they cost to provide. Good idea.

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4 hours ago, yootalkin2me said:

The issue is that the Manual Workers have always paid into their pension, up until fairly recently that was at 5% but has risen to near 10% and will no doubt rise again. However, the civil servants never paid a penny in until recently when GUS was implemented, the payments into the pension is in line with manual workers as all government employees are now classed as public servants. What should happen is, the ex civil servants (not manual workers) should be deducted the amounts they should have paid into the pension whilst they were in employment but that will never happen.

Didn’t they pay 1.5% for “family benefits”?

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My friend is a Policeman and he told me that he pays (or is about to pay) 14% of his wages per month into his pension scheme, thats a lot of money, if that was me, I would want a return out of that when I retire!

Also pensions are taxed at present so how can you tax it further? 

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