Let's bury the news - Dads Army new pension deal

[Mojocvh]

Fittster said:

Mojocvh said:

What's your take on the military covenant [if you have heard of it]?

It's a load of emotional twaddle with no basis in law. With high unemployment likely to continue recruitment won't be a problem even if the pension deal is changed.

Terms and Condition will be improved only once there's a shortage of new recruits and as the army is happy to outsource to places where labour is cheap (e.g Nepal).

It wasn't directed at yourself, but thanks anyway for not breaking the mould ...

[Mojocvh]

Caulkhead said:

eccles said:

Caulkhead said:

Gazzas86 said:

I'm in the forces, the pension is one of the biggest factors to keep many men and women in Uniform, Everyone i work with who are in the 'pension trap (been in for more than 10 yrs)' say if it changes to much then they will leave.
I spent 7 out of 12 months last year around the Mediterranean area's, and for my colleagues and their families the pension was something to make the time being away bearable. i.e. Don't worry love only xx months/years to go and we'll have my pension and ill be able to spend more time with the kids and make up for the time i was away...Same story over and over again. Hell look, One of our T-Boat subs came back this week after 11 Months away under the deep blue. fk the pension up too much and you will have severe manning gaps i guarantee it.

Dont get me wrong i know the Military pension is st hot compared to other public / private sector etc , and from the new guys/girls coming through the gates after 2015 they wont know any different, in my opinion the guys and girls (like me who are on the old scheme) will seriously consider other career paths should the government get carried away.

Where will you find a better pension if you leave?

Where will you find people to do the nations bidding if there aren't any perks to joining up?

As far as I'm concerned, having a much better pension than the equivalent private sector employee (and fully deserved in the case of the armed forces) but not getting it until 60 instead of 55 is still a pretty good perk.

.....Introduction of the military salary scheme in 1970 included an 'abatement' of the calculated salary of somewhere in the region of 9 - 12%. This, we were told, was to finance the military pension. So, when someone tells you all about the gold-plated non-contributory military pension you are going to enjoy, you can tell them they are wrong. You have contributed throughout your service by getting a smaller salary than you deserved. ......

[Fittster]

Mojocvh said:

.....Introduction of the military salary scheme in 1970 included an 'abatement' of the calculated salary of somewhere in the region of 9 - 12%. This, we were told, was to finance the military pension. So, when someone tells you all about the gold-plated non-contributory military pension you are going to enjoy, you can tell them they are wrong. You have contributed throughout your service by getting a smaller salary than you deserved. ......

And you think that contribution is sufficient to pay for the current level of military pension?

[Mojocvh]

Fittster said:

Mojocvh said:

.....Introduction of the military salary scheme in 1970 included an 'abatement' of the calculated salary of somewhere in the region of 9 - 12%. This, we were told, was to finance the military pension. So, when someone tells you all about the gold-plated non-contributory military pension you are going to enjoy, you can tell them they are wrong. You have contributed throughout your service by getting a smaller salary than you deserved. ......

And you think that contribution is sufficient to pay for the current level of military pension?

They deserve it and a lot more.

[sidicks]

Mojocvh said:

.....Introduction of the military salary scheme in 1970 included an 'abatement' of the calculated salary of somewhere in the region of 9 - 12%. This, we were told, was to finance the military pension. So, when someone tells you all about the gold-plated non-contributory military pension you are going to enjoy, you can tell them they are wrong. You have contributed throughout your service by getting a smaller salary than you deserved. ......

And the fact is that cost of the pension was probably around 9-12%. In 40 years things have changed considerably and the cost is now more like 3 times as much that......

Regardless, a final salary inflation-linked pension for life is exactly the definition of gold-plated, as far as pensions are concerned!

Edited by sidicks on Wednesday 1st August 14:22

[Caulkhead]

Mojocvh said:

Caulkhead said:

eccles said:

Caulkhead said:

Gazzas86 said:

I'm in the forces, the pension is one of the biggest factors to keep many men and women in Uniform, Everyone i work with who are in the 'pension trap (been in for more than 10 yrs)' say if it changes to much then they will leave.
I spent 7 out of 12 months last year around the Mediterranean area's, and for my colleagues and their families the pension was something to make the time being away bearable. i.e. Don't worry love only xx months/years to go and we'll have my pension and ill be able to spend more time with the kids and make up for the time i was away...Same story over and over again. Hell look, One of our T-Boat subs came back this week after 11 Months away under the deep blue. fk the pension up too much and you will have severe manning gaps i guarantee it.

Dont get me wrong i know the Military pension is st hot compared to other public / private sector etc , and from the new guys/girls coming through the gates after 2015 they wont know any different, in my opinion the guys and girls (like me who are on the old scheme) will seriously consider other career paths should the government get carried away.

Where will you find a better pension if you leave?

Where will you find people to do the nations bidding if there aren't any perks to joining up?

As far as I'm concerned, having a much better pension than the equivalent private sector employee (and fully deserved in the case of the armed forces) but not getting it until 60 instead of 55 is still a pretty good perk.

.....Introduction of the military salary scheme in 1970 included an 'abatement' of the calculated salary of somewhere in the region of 9 - 12%. This, we were told, was to finance the military pension. So, when someone tells you all about the gold-plated non-contributory military pension you are going to enjoy, you can tell them they are wrong. You have contributed throughout your service by getting a smaller salary than you deserved. ......

I think they'd stopped mentioning that by the time I took the queen's shilling!