For sure mate, teachers, fire etc etc. It’s bonkers when you think about it that they get above inflation pay awards yet we still might have a proverbial “winter of discontent” and that’s solely down to a very bullish pay award to junior doctors and now the gloves are off, the next 12 months are going to be interesting. I get why he wanted it done, perhaps it just proves the old saying that no good deed goes unpunished.
Unfortunately not, was in the building game and never had sufficient spare cash to start a private pensionThere are other metrics that come into play that mean you may still get it. Are you on a decent pension?
I would advise any young person to start putting money away for their private pension asap. The SIPP is a good one, but take advice if you're in doubt. Your retirement may seem a long way away, but it soon creeps up on you. It's well worth missing a few gigs, or even holidays, if that's what it takes.
Don't leave yourself reliant on the state as the way things are going the state will give you SFA, and you don't want to spend your last 20-30 huddling over a candle and eating cold baked beans.
Ye it does seem a bit extreme, when I left the fire service I was around 15/16% down on where I should’ve been, since I left they've clawed that back, however that’s from 2010-2024, so the the last three rises have got them where they should’ve been 3 years ago, so in essence they are due another three rises to get to the 22% the doctors got. I doubt the fire will strike, there was no fight for it a few years ago as dinosaurs like me talked to the young ones they have zero interest in the bigger picture, they’ll do a bit of overtime to compensate, they don’t even know how their pensions work!For sure mate, teachers, fire etc etc. It’s bonkers when you think about it that they get above inflation pay awards yet we still might have a proverbial “winter of discontent” and that’s solely down to a very bullish pay award to junior doctors and now the gloves are off, the next 12 months are going to be interesting. I get why he wanted it done, perhaps it just proves the old saying that no good deed goes unpunished.
Unfortunately not, was in the building game and never had sufficient spare cash to start a private pension
Neither, divorce cost me, back to TupperwareDid you have nice holidays and cars?
Let’s just say JDs are well protected by the system.
That's life I'm afraid. And no one is forced to lock in to any rate are they?be great news for those that were forced to lock in at 5/6 % for the next 2-5 years.
Above inflation currently. Inflation was running at almost double that only a few months before and it's the first pay rise since.
The junior doctor deal is two ears and the agenda for change deal is only for one year. Apples and oranges.
The first part was terrible Deflection. The second part is at least a part no you ain't endorsing the policy.I'm really not sure where the "killing 4000" came from, and don't intend to minimise the problem of pensioner poverty.
But the "top indicator" (from Age UK) is that under Labour 1997-2010 the number of pensioners "living in poverty after housing costs" fell from 2.9m to 1.6m and after 14 years of the Tories it was back over 2m.
(That's poverty related to average incomes.)
For the record, while I've put the WF payment in context, and while I and most pensioners don't need it, I don't think I actually said that restricting it was a good idea. But that opens up a wider discussion about tax and spend policy in a world where taxation is seen as imposition rather than an opportunity.