Non-Believer Posted July 24, 2020 Share Posted July 24, 2020 I see as well that in the haste to evacuate the Chamber yesterday that there couldn't have been any time to debate or consider the latest PS Pensions figures situation which is tucked away on iomtoday (sorry, can't link but I've drawn the salient figures to post). A £10.3M shortfall in annual funding for 2019 albeit down from the £13.6M in 2018. Govt employer contributions contributing to this by paying only 15.4% as opposed to the actuarially recommended 20.3%. Contributions and income of £64.5M vs £74.9M in outgoings. Total liability up £448M to £4.171BN. Contributed to by an actuarial loss of £324M. When the "reserve" (such as it is) exhausts in 2021-22 Govt is forecast to have to pull £45M from Public reserves to fill the shortfall, rising to a projected £155M annually by 2034. So that's all ok then. Link to comment Share on other sites More sharing options...
NoTail Posted July 24, 2020 Author Share Posted July 24, 2020 17 minutes ago, Non-Believer said: I see as well that in the haste to evacuate the Chamber yesterday that there couldn't have been any time to debate or consider the latest PS Pensions figures situation which is tucked away on iomtoday (sorry, can't link but I've drawn the salient figures to post). A £10.3M shortfall in annual funding for 2019 albeit down from the £13.6M in 2018. Govt employer contributions contributing to this by paying only 15.4% as opposed to the actuarially recommended 20.3%. Contributions and income of £64.5M vs £74.9M. Total liability up £448M to £4.171BN. Contributed to by an actuarial loss of £324M. When the "reserve" (such as it is) exhausts in 2021-22 Govt is forecast to have to pull £45M from Public reserves to fill the shortfall, rising to a projected £155M annually by 2034. So that's all ok then. One possible solution? Bring in the coronavirus? Link to comment Share on other sites More sharing options...
woolley Posted July 24, 2020 Share Posted July 24, 2020 1 hour ago, Non-Believer said: I see as well that in the haste to evacuate the Chamber yesterday that there couldn't have been any time to debate or consider the latest PS Pensions figures situation which is tucked away on iomtoday (sorry, can't link but I've drawn the salient figures to post). A £10.3M shortfall in annual funding for 2019 albeit down from the £13.6M in 2018. Govt employer contributions contributing to this by paying only 15.4% as opposed to the actuarially recommended 20.3%. Contributions and income of £64.5M vs £74.9M in outgoings. Total liability up £448M to £4.171BN. Contributed to by an actuarial loss of £324M. When the "reserve" (such as it is) exhausts in 2021-22 Govt is forecast to have to pull £45M from Public reserves to fill the shortfall, rising to a projected £155M annually by 2034. So that's all ok then. Need to get that VAT share rising even faster. Link to comment Share on other sites More sharing options...
Holte End Posted July 26, 2020 Share Posted July 26, 2020 Mr Benn and Pooper on MR. On election campaign, i did not hear one comment from the comedy duo of anything to help in these times. Just more negativity. Link to comment Share on other sites More sharing options...
Anyone Posted July 26, 2020 Share Posted July 26, 2020 It’s quite simple really. All taxes need to rise and should be levied on income and capital gains. The low paid need to be removed from paying tax. NI needs to be abolished and added to the income tax rate. Wealth tax needs to be introduced. Never happen though , will it? If it did then we would have a fairer and more prosperous nation. Link to comment Share on other sites More sharing options...
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