Pension win

[Uncle Wally One Ball]

Funny what happens when you lump judges into the mix innit? Im hoping for the best here as well. Some kind of compromise may result, it wont be back to square one Im sure. ( which it should be by the way)

 

[denislawsbackheel]

PPS, whilst I’m happy for you that you are happy, the judges and firefighters have just fucked up the teachers’ new pension scheme, which was an excellent scheme, cheers.

Better than the predecessor?
40 years max, 50% of best of last three years salary plus a lump sum of 1.5 times?

 

[BlueTG]

PPS, whilst I’m happy for you that you are happy, the judges and firefighters have just fucked up the teachers’ new pension scheme, which was an excellent scheme, cheers.

How so?

I’m about to start paying into my teacher’s pension scheme and I know very little about the whole thing.

 

[squirtyflower]

Better than the predecessor?
40 years max, 50% of best of last three years salary plus a lump sum of 1.5 times?

The new pension scheme for teachers is much better than the final salary scheme, and that’s coming from someone who voted for strike action against its introduction.

I’m not sure of your numbers above because they relate neither to the two final salary schemes (pre and post 2007) nor to the CARE scheme.

 

[squirtyflower]

How so?

I’m about to start paying into my teacher’s pension scheme and I know very little about the whole thing.

Well the new Teachers’ Pension scheme has been running for just over four years. There was due to be a huge uplift in benefirpts from April 19 but that has now been put on indefinite hold until HMT have sorted out what will happen next. They can’t do that until the Employment Tribunal rules on the changes that need to made due to the Judges and FBU’s case against the government. The ruling isn’t expected for at least a year and then they’ll have to be a time whilst HMT come up with new proposals. Irate a fucking mess.

I would adivse that if you are a teacher you’d be a complete dick head not to be in the scheme, unless you’re loaded and losing your tax relief on pension contributions.

 

[i kne albert davy]

Unfortunately with this government for every winner there will be a loser somewhere!

Hmmm let me think if there isn't enough money to fund public sector pensions at the current level I wonder who'll have to cover the shortfall.

 

[Corky]

Well the new Teachers’ Pension scheme has been running for just over four years. There was due to be a huge uplift in benefirpts from April 19 but that has now been put on indefinite hold until HMT have sorted out what will happen next. They can’t do that until the Employment Tribunal rules on the changes that need to made due to the Judges and FBU’s case against the government. The ruling isn’t expected for at least a year and then they’ll have to be a time whilst HMT come up with new proposals. Irate a fucking mess.

I would adivse that if you are a teacher you’d be a complete dick head not to be in the scheme, unless you’re loaded and losing your tax relief on pension contributions.

I have met plenty of people who opt out of similar, normally because either they want more money, are conspiracy theorists or just think they won't be around to claim it. It is still a no brainer in any public sector scheme like you say though, just not as good as it once was, e.g director gets a 50% pay rise for 3 months before retiring on final salary.

 

[squirtyflower]

I have met plenty of people who opt out of similar, normally because either they want more money, are conspiracy theorists or just think they won't be around to claim it. It is still a no brainer in any public sector scheme like you say though, just not as good as it once was, e.g director gets a 50% pay rise for 3 months before retiring on final salary.

I disagree with you on the new scheme not being as good as the the final salary scheme.
The only downside with the new scheme is the ‘normal retirement age’. The scheme itself has a better accrual rate, much more flexible, has inflation plus 1.6% interest added to it each year and isn’t tied to the vagaries of having to maintain a high final salary (or worse still being demoted before your last seven years, which would have a devasting affect on your pension).

 

[BlueTG]

Well the new Teachers’ Pension scheme has been running for just over four years. There was due to be a huge uplift in benefirpts from April 19 but that has now been put on indefinite hold until HMT have sorted out what will happen next. They can’t do that until the Employment Tribunal rules on the changes that need to made due to the Judges and FBU’s case against the government. The ruling isn’t expected for at least a year and then they’ll have to be a time whilst HMT come up with new proposals. Irate a fucking mess.

I would adivse that if you are a teacher you’d be a complete dick head not to be in the scheme, unless you’re loaded and losing your tax relief on pension contributions.

I’ve paid 4 years into a pension scheme with the council for my educational role prior to this year, however it’s my first year in teaching and I will be opting to pay into my pension scheme from the off in September.

Thanks for the info.

 

[squirtyflower]

I’ve paid 4 years into a pension scheme with the council for my educational role prior to this year, however it’s my first year in teaching and I will be opting to pay into my pension scheme from the off in September.

Thanks for the info.

No worries mate, if you want it explained in more detail to you send me a PM. You can transfer the council pension into your teacher’s pension if you want, but probably no one will mention it to you.