council tax

A think tank was suggesting 75 for state pension the other month.

Best bet is personal plans as the state will provide fuck all when we get that age.

75. Fuck me.

I pay 5% in and my company pay an additional 12%. However I just choose the standard fund when there are several choices of fund I could put the funds in. You can split the contributions. I'm thinking of putting a certain percentage against one of the higher risk ones.
 
75. Fuck me.

I pay 5% in and my company pay an additional 12%. However I just choose the standard fund when there are several choices of fund I could put the funds in. You can split the contributions. I'm thinking of putting a certain percentage against one of the higher risk ones.
It's not a bad idea. On 20 year plus time horizons you're looking at 9% growth pa on an equally split global multi asset portfolio.

There very little volatility on those time frame.
 
It's not a bad idea. On 20 year plus time horizons you're looking at 9% growth on an equally split global multi asset portfolio.

There very little volatility on those time frame.

40 years if I'm retiring at 75.

Do you know/heard of Edentree? They are the investment arm of my company. Seem to have decent results.
 
Pension age will go up to 70.

Perfect ..Three score and ten it is
When will all you wanna be pensioner economists wake up and smell that coffee
Enjoy yourselfs .. enjoy the moment and get a grip with percentage yields ..FFS

There is a hamock and the sound of crashing waves awaiting your kind persusal.
Go go now quickly .. Time is not your friend !
 
Always this - one of my biggest gripes about the public sector. This is a huge financial burden now which is only going to worse and no end in sight of ending this error. All this two thirds final salary after 40 years service (less years for some occupations), was all well and good when most people dropped dead at 70. But now with the pension schemes not earning or growing as originally envisaged, people living a lot longer and retiring earlier, these pensions funds are being financed by current contributions (and there is less of them) or by extra top up by tax payers. Its like a pyramid scheme about to topple over only that the back stop is the tax payer.
All the calculations that they were based on are in error, and you should never perpetuate an error.

You do realise that most public sector workers are in low paid jobs performing important tasks that have a direct impact on your quality of life, don't you? At our council, over a quarter of staff perform manual roles at the rate of the bottom of the London living wage. Do you think living in London when warning £9 is easy? As for their pensions, they pay around 5%.

Please don't fall for the claptrap published by the Daily Mail, Taxpayers Alliance and the likes. Yes, there have been high profile case scandalous payouts. A number that have not been reported too. However, it is not everyone in the public sector is a director or chief exec.
 
Council Tax isn't the Council's budget, there is a lot of Gov subsidy that is being withdrawn by 2020 and Council's are to be self funding through business rates. Council budgets have been slashed by 50% sine 2010 in some cases so social care is where almost all the money will end up, older people, children, learning disabilities, physical disabilities and mental health. Care sector workers are already on around minimum wage, there is growing need with an ageing population and nothing left to cut.

"Slavery the Economic Miracle" by Alan Beresford B'stard doesn't seem that fictional now.
 
You do realise that most public sector workers are in low paid jobs performing important tasks that have a direct impact on your quality of life, don't you? At our council, over a quarter of staff perform manual roles at the rate of the bottom of the London living wage. Do you think living in London when warning £9 is easy? As for their pensions, they pay around 5%.

Please don't fall for the claptrap published by the Daily Mail, Taxpayers Alliance and the likes. Yes, there have been high profile case scandalous payouts. A number that have not been reported too. However, it is not everyone in the public sector is a director or chief exec.
So it's only public sector workers who are providing important tasks and hence should have inflated and unaffordable pensions subsidised by all the other low paid workers who evidently not as important.
Your primary concern should be the rates of pay in the first instance. But then there would be an outcry at the cost of services and who pays for them.
It's probably a lose/lose conversation.
 
So it's only public sector workers who are providing important tasks and hence should have inflated and unaffordable pensions subsidised by all the other low paid workers who evidently not as important.
Your primary concern should be the rates of pay in the first instance. But then there would be an outcry at the cost of services and who pays for them.
It's probably a lose/lose conversation.

Who said it was only public sector workers? You do realise that low wages equal x-low pensions don't you?

Of course the rates of pay are a disgrace but at least having a pension rewards them.
 
To be fair, I think new entrants get a different deal. Career averaging rather than final salary?

However, local authority employees lived off the fat of the land long after most taxpayers had their final salary schemes closed down. I'm sure I read three or four years ago that a massive 25% of revenues raised directly by council tax went into pensions. That doesn't leave a lot for providing services but isn't the ethos to look after staff first, punters second?

If my numbers are wrong, I'm sure one of the beneficiaries of such munificence will correct me.

Decades ago, civil servants and public employees enjoyed those benefits because they were payed less than the average person. They got gongs as well, to compensate them.

The problem we now have is they think they are on a par with private enterprise, and pay themselves accordingly, with pensions to match.

It is ridiculous to compare a local government officer, who knows how much money is arriving in his department with a budget, and a big, fat rule book on how to spend it,against an entrepreneur making strategic decisions that will make or break the company.

No local council has ever disappeared into oblivion, like Polariod for example.

Profit is the reward for risk. There is no risk in running a council or other government department, so I don't see why they should be paid a comparable salary.

When you see the money they are earning, like heads of departments on hundreds of thousands a year, it's just wrong.

They don't deserve it.
 
I have little trust in the ability of local Councillors to make effective and realistic decisions (evidenced by the fact that my local Councillors in Rochdale have recently voted a 34% rise in their own expenses!)
 
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