Do you support the RMT?

[Brewster's millions]

Er - most rail workers and all postal workers work for private companies.

You should read the post again, or read it properly in the first place.

The first part of the post I talked about a hypothetical two sectors of the economy, public and private. In the final bit, I suggested that some people apply this same two sectors logic to unionised and non-unionised workers. I did not imply that unionised workers necessarily work in the public sector. So, er, you’re wrong.

 

[Vic]

Have a word with Gordon Brown, he is the reason that nobody gets a company final salary pension scheme anymore.

Another Tory myth.

"The UK's hundred largest companies - which only represent a fraction of total pension liabilities - had a deficit of £36bn in their defined-benefit schemes in July this year, according to research by actuaries Clark Lane and Peacock. So £5bn a year [the cost of abolishing ACT] would only account for a fraction of the country's total pensions deficit."

FactCheck: Did Gordon destroy our pensions?

Has, as George Osborne claims, Gordon Brown single-handedly destroyed the pension system?

www.channel4.com

 

[Vic]

You should read the post again, or read it properly in the first place.

The first part of the post I talked about a hypothetical two sectors of the economy, public and private. In the final bit, I suggested that some people apply this same two sectors logic to unionised and non-unionised workers. I did not imply that unionised workers necessarily work in the public sector. So, er, you’re wrong.

Ah, hypothetical, eh?

So this statement was just crap, or hypothetical crap?

"Regardless of where you work in the private sector, what job you do, how much you get paid, whether you can have your heating on or eat properly, you have to pay ever higher levels of tax and work longer so that public sector workers can receive what you judge to be a fair rate of pay, and be completely insulated from rising inflation."

As if public sector workers don't pay tax and work long. And how can lower than inflation pay claims mean being insulated from inflation? ("Rising inflation" is a tautology, surely.)

 

[The Future’s Blue!]

I’d like ML, et al, to, instead of his well thought out speeches, just say ‘If this government can’t support those that save lives, from the first responder who has to double up as a social worker, to the nurse who works unpaid to ensure that those that really need it have a listening ear and care when things turn dark, then it’s understandable why they have chosen to ignore your public services. They just don’t care about you.’. Or words to that effect.

 

[bluethrunthru]

Fixed - at least I think that's what you meant

Just hinting that maybe the Brown "raid" on pensions may not be the only force in play and perhaps some mismanagement of the pension fund by the trustee's and or employers may have come into play too as both my pension funds were visited by Browns raids and I seem to have come out the other side ok

 

[Brewster's millions]

Ah, hypothetical, eh?

So this statement was just crap, or hypothetical crap?

"Regardless of where you work in the private sector, what job you do, how much you get paid, whether you can have your heating on or eat properly, you have to pay ever higher levels of tax and work longer so that public sector workers can receive what you judge to be a fair rate of pay, and be completely insulated from rising inflation."

As if public sector workers don't pay tax and work long. And how can lower than inflation pay claims mean being insulated from inflation? ("Rising inflation is a tautology, surely.)

I think you’ve got completely the wrong end of the stick to be honest. I will try to explain, but I’m not sure I’ll be able to.

The post you’ve latched onto was my response to somebody talking about public and private sectors in very clear cut terms. In my post I argued that it was overly simplistic to suggest that private sector workers are currently all in a better financial situation than public sector workers. I used a hypothetical, exaggerated argument to make my point. So you quoting bits of text, all out of context, isn’t really going to work.

And ‘rising inflation’ is not a tautology. You seem to be confusing the price level and rates of change. Inflation describes a rise in the price level. But rising inflation relates to the second derivative, that is a rising rate of change in the price level. Inflation can rise or fall, but is nearly always positive. So the current problems relate to rising inflation, not inflation per se.

 

[bluethrunthru]

Another Tory myth.

"The UK's hundred largest companies - which only represent a fraction of total pension liabilities - had a deficit of £36bn in their defined-benefit schemes in July this year, according to research by actuaries Clark Lane and Peacock. So £5bn a year [the cost of abolishing ACT] would only account for a fraction of the country's total pensions deficit."

FactCheck: Did Gordon destroy our pensions?

Has, as George Osborne claims, Gordon Brown single-handedly destroyed the pension system?

www.channel4.com

A lot also depends on how the pension is managed too - far too many businesses have been allowed to effectively pass their pension responsibilities on to 3rd party companies. In my personal experience when this is done well even the outcome can be poor. As I have said I have two pensions that are/were managed internally by trustee's who are/were employee's and funnily enough both are well funded and in surplus. I had 18 months when one employer passed the pension on and when I left I took that as cash because already its value was less than the amount I and my employer had contributed due to poor investment decisions

 

[Gray]

Just hinting that maybe the Brown "raid" on pensions may not be the only force in play and perhaps some mismanagement of the pension fund by the trustee's and or employers may have come into play too as both my pension funds were visited by Browns raids and I seem to have come out the other side ok

Because of Brown, actuarial valuations led to companies having to get more contributions from members as well as increasing their own contributions. In my companies case many members elected to defer pensions and cease contributing, subsequent actuarial valuations meant the company alone having to make up the shortfall. Finally they could do it no longer and in stepped the PPF.

I was a pension fund trustee so know the problems of funding from first hand knowledge. I stand by my criticism of Brown as he was the man who caused the demise of final salary company pension schemes.

And I am not, and never have been a Tory.

 

[bluethrunthru]

Because of Brown, actuarial valuations led to companies having to get more contributions from members as well as increasing their own contributions. In my companies case many members elected to defer pensions and cease contributing, subsequent actuarial valuations meant the company alone having to make up the shortfall. Finally they could do it no longer and in stepped the PPF.

I was a pension fund trustee so know the problems of funding from first hand knowledge. I stand by my criticism of Brown as he was the man who caused the demise of final salary company pension schemes.

And I am not, and never have been a Tory.

why couldn't the business keep funding the shortfall? Did they go bust? My understanding is that the PPF step in if they go bust. If so the PPF pay 100% of your entitlement if you are already retired and guarantee's 90% of your entitlement if you are below retirement age. Not great but hardly a collapse.

 

[Zubrman]

Does anyone know what the Strikers get paid while on Strike off the unions? I know there's a Hardship fund of some sort. I know it's not a lot and enough to cover expenses etc?

We get paid nothing. Even my pension credits are deducted by the number of days I strike.

There is a union hardship fund, which I volountarily contributed to when ASLEF members in another company were on strike a few years ago. This is used sparingly by the union to assist members who are in really dire circumstances.

Apart from that, fuck all.

Whilst the train operating companies receive compensation from the government for lost revenue when affected by strikes, paid for by our taxes.