SOMEONE TELL DAVE...

[Cannydc]

Better still, tell Ed Miliband.

A very useful weapon for the next election ?


The government will make no savings by raising the public sector pension age to 67, a pensions consultant has said.

"The total cost of the more generous, but later pension, is virtually the same as the cost of the current, less generous but earlier pension," said leading consultant John Ralfe.

Mr Ralfe's study points to the accrual rates in the forthcoming schemes, which means the rate at which a pension builds up each year before retirement.

The important point is that the rate at which pensions are accrued - the rate at which benefits are earned - has been improved by the reforms”

As a result of recent negotiations with trade unions, the NHS career average scheme will have an annual accrual rate of 1/54th of each year's earnings, while the teachers' scheme will have an annual accrual rate of 1/57th of each year's earnings.

To prevent accrued pensions being eroded by inflation, each member's accrued pension will then be uprated each year.

The proposed revaluation rate, for active members, will be the consumer prices index (CPI) plus 1.5% for the NHS scheme, and CPI plus 1.6% each year in the teachers' scheme.

"The Teachers Pension Scheme (TPS) and NHS have annual increases over CPI baked in, which gives no flexibility to have a pension freeze along with a pay freeze," said Mr Ralfe in the report.

"Pensions will still go up, even if pay is frozen."

Mr Ralfe's study concludes that the cost to the taxpayer before the reforms of having the retirement age at 60 was 31% of the average public sector salary.

After the reforms, Mr Ralfe claims, the cost to the taxpayer of having the retirement age at 67 will be broadly the same: 31% of a teacher's salary, 32% of an NHS worker's salary and 26% of a civil servant's salary.

[Guest]

Cameron gave a small speech on how he is going to tax the richest elites, just like the EU referendum he was going to give us, the 5,000 new midwives he was going to give us...

[Ahmed]

And the hell are we suppose to understand all that?
as far as I am concerned, I pay my taxes and nat.ins and expect my pension to be there and ready for when I retire.....I do not expect someone to invest it and lose it or spunk it away and then tell me when my days come, that there is not that much because of ridiculous words no one understands, or at worse there is nothing left.
If they can not guarantee us our pensions then give me back all the nat.ins and part of my taxes I pay and I will sort it myself.
The pensions make me bloody laugh, its some investors who want to make money with our money and we have no say in it????

[Cannydc]

Which pension are you referring to Ahem ?

This is about the State Pension, no money is invested, your pension will be paid by people paying taxes from the day you retire.

[Ali]

Cameron gave a small speech on how he is going to tax the richest elites, just like the EU referendum he was going to give us, the 5,000 new midwives he was going to give us...

Oh we will get 5,000 new midwives alright. But, we will have to wait for 5,000 old ones to retire first.

[Mark]

silverspoon and baronet bertie have come up with a cunning plan

instead of gettin 5000 new midwives

the clever pair of bastards have decided to shut even more maternity units & hospitals.

nice work guys, whoever said economics was difficult

[Ali]

silverspoon and baronet bertie have come up with a cunning plan

instead of gettin 5000 new midwives

the clever pair of bastards have decided to shut even more maternity units & hospitals.

nice work guys, whoever said economics was difficult

I wish this site had a like button.

[LordRaven]

silverspoon and baronet bertie have come up with a cunning plan

instead of gettin 5000 new midwives

the clever pair of bastards have decided to shut even more maternity units & hospitals.

nice work guys, whoever said economics was difficult

Silly question Mark,but why then continue mass immigration which has led to a baby boom?

NL and now Coalition tell us more people = more money after all? ----------Something i think is bullshit as more people means we have to spread our finite amount of money even more thinly.

[Guest]

silverspoon and baronet bertie have come up with a cunning plan

instead of gettin 5000 new midwives

the clever pair of bastards have decided to shut even more maternity units & hospitals.

nice work guys, whoever said economics was difficult

Silly question Mark,but why then continue mass immigration which has led to a baby boom?

NL and now Coalition tell us more people = more money after all? ----------Something i think is bullshit as more people means we have to spread our finite amount of money even more thinly.

They are for the free market. Are you against mass immigration this week? The week before Christmas you were all for it saying it is wonderful to have such a melting pot esp in London.