Happier diner 838 Posted February 22 Share Posted February 22 3 minutes ago, finlo said: It's having a lifetime of future repairs preinstalled! It's a future proof boost to the economy and employment. 1 Quote Link to post Share on other sites
Boris Johnson 947 Posted February 22 Share Posted February 22 33 minutes ago, Happier diner said: I don't think so. The fund grows as the number of contributors goes up. Staff make bigger % contributions. It's still in deficit but that's not an issue unless everyone retired in the next couple of years. Pension schemes work this way. It's still a concern but if government keep increasing contributions and reducing benefits it will eventually level out. That's the theory anyway. If you are talking about gov pensions there is no fund, its unfunded. Current pensions are paid from current payments from current staff and the shortfall is made up by general taxation money. The make up bit from general tax is going to get bigger and bigger every year is what I understand. 1 Quote Link to post Share on other sites
Happier diner 838 Posted February 23 Share Posted February 23 15 hours ago, Boris Johnson said: If you are talking about gov pensions there is no fund, its unfunded. Current pensions are paid from current payments from current staff and the shortfall is made up by general taxation money. The make up bit from general tax is going to get bigger and bigger every year is what I understand. I honestly don't think that's correct but I stand to be corrected. This information must be available somewhere Quote Link to post Share on other sites
Non-Believer 13,312 Posted February 23 Share Posted February 23 With thanks to @The Teapot for originally posting, left column, para 4 tells lots. Bearing in mind that those "employee contributions" also come from Govt because they're coming from Govt payroll. Quote Link to post Share on other sites
TheTeapot 11,493 Posted February 23 Share Posted February 23 5 minutes ago, Happier diner said: I honestly don't think that's correct but I stand to be corrected. This information must be available somewhere It is correct and has been discussed on here loads, including when Chris Thomas was still posting here. In any other situation it would be described as a ponzi scheme, where you constantly need to sign up new members to pay out the old. 3 Quote Link to post Share on other sites
Happier diner 838 Posted February 23 Share Posted February 23 1 minute ago, TheTeapot said: It is correct and has been discussed on here loads, including when Chris Thomas was still posting here. In any other situation it would be described as a ponzi scheme, where you constantly need to sign up new members to pay out the old. 3 minutes ago, Non-Believer said: With thanks to @The Teapot for originally posting, left column, para 4 tells lots. Bearing in mind that those "employee contributions" also come from Govt because they're coming from Govt payroll. There it is. I stand corrected Quote Link to post Share on other sites
Peter Layman 202 Posted February 23 Share Posted February 23 Driving along the prom recently and thought it must be fun for the guys working there to have to move half the beach out of the way before they can carry on with anything. 1 Quote Link to post Share on other sites
Wordsworth 0 Posted February 23 Share Posted February 23 It probably wasn’t to much fun demolishing the new concrete block walls they have just built in front of the Sefton, on the plus side the rain kept the dust down and few spectators/ taxpayers to witness another got it wrong again dad moment. Quote Link to post Share on other sites
Numbnuts 1,574 Posted February 23 Share Posted February 23 1 hour ago, Wordsworth said: It probably wasn’t to much fun demolishing the new concrete block walls they have just built in front of the Sefton, on the plus side the rain kept the dust down and few spectators/ taxpayers to witness another got it wrong again dad moment. These are major cock ups tbh. Not sure how there making so many but clearly something is very wrong with management and supervision down there . I know around there some of the kerbs are wrong level also . Quote Link to post Share on other sites
Banker 2,051 Posted February 23 Share Posted February 23 (edited) 8 hours ago, TheTeapot said: It is correct and has been discussed on here loads, including when Chris Thomas was still posting here. In any other situation it would be described as a ponzi scheme, where you constantly need to sign up new members to pay out the old. It’s exactly the same in UK although I think one of Channel Islands does have a fund but not sure which one. The only government owned entities with actual pensions funds are the post office and steam packet Edited February 23 by Banker Quote Link to post Share on other sites
Numbnuts 1,574 Posted February 23 Share Posted February 23 2 minutes ago, Banker said: It’s exactly the same in UK although I think one of Channel Islands does have a fund but not sure which one. The only government owned entities with actual pensions funds are the post office and steam packet Think Police have there own as now again do the Fire service . Quote Link to post Share on other sites
Non-Believer 13,312 Posted February 23 Share Posted February 23 1 minute ago, Numbnuts said: Think Police have there own as now again do the Fire service . I thought they were all amalgamated under G.U.S.? I know the MEA/Water Authority schemes were absorbed because I know a couple of guys in there...they both reckon that the MEA/Water schemes were screwed over on amalgamation because their schemes were adequately funded; unlike what they were being sucked into. Quote Link to post Share on other sites
Banker 2,051 Posted February 23 Share Posted February 23 8 minutes ago, Numbnuts said: Think Police have there own as now again do the Fire service . I think they were rolled in to GUS and presumably into general funding! Quote Link to post Share on other sites
Numbnuts 1,574 Posted February 23 Share Posted February 23 (edited) 11 minutes ago, Banker said: I think they were rolled in to GUS and presumably into general funding! Didnt they try that with Fire service in UK too and they took it tonthe High Court and won so they retained there independance pension wise . I will check with a Police friend on theres. For sure they pay in around 13% I believe Edited February 23 by Numbnuts Quote Link to post Share on other sites
Nellie 639 Posted February 23 Share Posted February 23 4 hours ago, Numbnuts said: These are major cock ups tbh. Not sure how there making so many but clearly something is very wrong with management and supervision down there . I know around there some of the kerbs are wrong level also . I noticed today that they were also lifting the blocks on the crossing by Senna Slip as a large number had moved under the weight of traffic. No idea if they will rethink this or just put them back down, as they were. Quote Link to post Share on other sites
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