So, now that Early Retirement or even Retirement at all......

Re: But then of course, when the Asset Tax cometh........

Have a look at the profiles - most of those working towards a "gold plated" government pensions on this site have relatively modest 20 or 30 year old boats. Most of those objecting to them getting a pension seem to have the larger newer boats. What does that tell you?
 
Re: But then of course, when the Asset Tax cometh........

[ QUOTE ]
Have a look at the profiles - most of those working towards a "gold plated" government pensions on this site have relatively modest 20 or 30 year old boats. Most of those objecting to them getting a pension seem to have the larger newer boats. What does that tell you?

[/ QUOTE ]
That those in the private sector know very well that Gordy Frown will find some way of separating them from their money so they might as well spend it now; while those in the public sector know that they taxpayers will be funding them for ever so they will be better off in retirement and can buy a bigger boat then /forums/images/graemlins/tongue.gif
 
Re: But then of course, when the Asset Tax cometh........

[ QUOTE ]
...so they will be better off in retirement and can buy a bigger boat then /forums/images/graemlins/tongue.gif

[/ QUOTE ]
You don't know much about the average government pension then - the better ones are two thirds and most are half of finishing wage. I wouldn't call a 50% reduction "better off", I will be lucky if I can afford to keep my boat.
 
Re: But then of course, when the Asset Tax cometh........

And what proportion of my income do you think I would have to put into a "money purchase" pension plan to enable me to retire on 50% of salary (index linked) after say 30 years of contribution?

Ask most people to guess and they are likely to be 3 or 4 times below the true figure.
 
Re: But then of course, when the Asset Tax cometh........

No idea, but my wage will have been paid at a reduced notional amount for thirty years to earn mine. All my working life I have been told that I have to accept lower wages and lower wage increases because of my "wonderful" pension - I have paid for it.
 
Re: But then of course, when the Asset Tax cometh........

From where I stand in the private sector - your pension seems wonderful to me.

The answer is I would need to save something like 35% of my income to be able to retire on the sort of percentages that a public sector worker gets - I'm planning on a more modest 25% of final salary as a pension, and even that takes 15-20% of my salary!
 
Re: But then of course, when the Asset Tax cometh........

You've had the higher wages and spent it on a bigger boat instead of a pension, you chose not to work for the government, you've made your choices and I've made mine.
 
Re: But then of course, when the Asset Tax cometh........

This song may be sung by out and out pretenders. I was employed as a state employee, my brother still is, and both of us received a pretty fair salary by comparison with our 'industrial' counterparts.

I find that the peeps who say they are underpaid as state employees are often suggesting that they would otherwise be high flyers. In practice they are state employees cos they are low and careful, safe flyers. /forums/images/graemlins/tongue.gif
 
Re: But then of course, when the Asset Tax cometh........

[ QUOTE ]
....In practice they are state employees cos they are low and careful, safe flyers. /forums/images/graemlins/tongue.gif

[/ QUOTE ]
Yep, like safe investors - happy for a safe lower return which probably balances out over the life of the investment.

I don't notice those who put money into risky investments, and lose, spouting off about reducing the savings interest rate in building societies to get back at those who weren't greedy.

Why are people who gambled on getting a higher pension so bitter because their gamble didn't pay off? What would they have said to the people on public sector pensions calling for their pensions to be reduced if the boot was on the other foot? Sounds like you left state employment because you thought you were a high flyer.

I joined it only for the pension and the reasonable retirement age. They are the only reasons I remain in it.
 
Re: But then of course, when the Asset Tax cometh........

you have to be careful, not all private sector job are well paid, and not all public sector jobs are poorly paid.

Compare Lawyer to shop / factory worker and nurse to police constable!
 
Re: But then of course, when the Asset Tax cometh........

That's right and why I find this attitude of all civil service pensions being "gold plated" and "index linked" so annoying - mine is neither.
 
[ QUOTE ]
and remember that once you've lived abroad for 3 months then you're no longer entitled to NHS care. Some people will be very happy with the standard and cost of healthcare in their adopted country, but a lot of others come home once they get any long-term illnesses.

[/ QUOTE ]

My wife is very ill and I thank God I am in France where the health care situation is wonderful. I think a lot of Germans would agree. - And I am an atheist!

Michael
 
and YOU know nothing about pensions....

...

It is actually against government rules for a pension to exceed 2/3 FS and with some af the accrual rates (1/80ths etc) it is rare for anyone to make full pension as in the case of 80ths you would need 53 years plus qualifying service. With what GB did to money purchase schemes, those in private pension plans would wish to be so fortunate.

Believe:- we are being steered towards a no assets income only regeime. That Is of course SOCIALISM!

Steve Cronin
 
Re: But then of course, when the Asset Tax cometh........

What about your fringe benefits?

Like hand made leather shoes for example?

I'm wearing a pair at the moment from a collection of over 30 brand new onworn pairs over-supplied to a retired prison officer around here who is selling them off at a local cobblers.

Steve Cronin
 
Re: But then of course, when the Asset Tax cometh........

Surely we all made our choices?

Gooid luck to those that have a decent state pension... its not a new unexpected benefit is it?, we all had the opportunity when we started our careers...

Personally, I don't think I could have stood an entire career in public sector, but don't begrudge those that did... especially those in the forces....
 
Re: But then of course, when the Asset Tax cometh........

[ QUOTE ]
you have to be careful, not all private sector job are well paid, and not all public sector jobs are poorly paid.

Compare Lawyer to shop / factory worker and nurse to police constable!

[/ QUOTE ]

I was very tempted to quit and become a fork lift truck driver a few years ago because they were earning a lot more than me without having to spend their life wading knee deep through scum for a public that resent them and a government that is trying to manipulate and betray them.

I also remember having to queue up with the criminals I had arrested to get my family benefit giro at the post office.

In the 90s my pension looked like it would be less than a private pension. I didn't complain then that people in the private sector would be better off than me in retirement just as they always had been in work. Nor did I open a private pension because I couldn't afford it.

I'm still bringing up a family on about the average wage of £32k. ( The top of my pay scale) working worse than average shifts in a, to say the least, demanding role. (especially at my age!) I'm not complaining about my pay, it's the most I've ever earned.

I didn't leave then because some of us are motivated by more than just money. Having said that, I have always had a contract that gave me a retirement date and a decent pension.
What is so wrong with that?

Even when I retire (early) I will still have a mortgage so will have the choice of either taking another job to top up pension or selling the house.

See, it's not all plain sailing in the public sector.
 
Re: and YOU know nothing about pensions....

How on earth MPs can justify their 1/40th scheme, whilst looking us in the face and saying 'save more' beggars belief.

Rick
 
Re: But then of course, when the Asset Tax cometh........

[ QUOTE ]
What about your fringe benefits?

Like hand made leather shoes for example?

I'm wearing a pair at the moment from a collection of over 30 brand new onworn pairs over-supplied to a retired prison officer around here who is selling them off at a local cobblers.

Steve Cronin

[/ QUOTE ]

He must be very old then or a thief. 20 odd years ago, prison officers were supplied with 2 pairs of uniform "K's" shoes (seconds) a year, the same as issued to military officers, bought on government contract. The shoe allowance is now £43 a year and is taxed. So for about £30 a prison officer is expected to buy safety footwear for a year.

here's my fringe benefit for this year:

4dlq90y.jpg


Now don't get me started on the quality of the rest of the crap uniform we are expected to wear, it has taken me 3 years and two different suppliers to get a pair of trousers that are anywhere near wearable...... /forums/images/graemlins/tongue.gif
 
Its a nasty piece of deliberate social engineering Steve. Retired people pay a lot less tax and zero NI.

But so long as Blair's personal army of civil servants are OK, then that's OK....isn't it?

They won't stop me and they won't stop me taking all my money out of this country either.

C'mon Blair - there's ya challenge. Bring it on!!
 
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