Final salary pension schemes should end

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Sky News

In the interests of all this shiny new 'fairness' - I can only whole-heartedly agree!

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el stovey said:

I don't agree.

Why should people not get the agreed pension they have worked for. Stop it for new joiners or even tinker with the contributions but not end it for current members.

It doesn't seem very fair to me.

Well that's fine, yes - but for new members it should have ended a LONG time ago...

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Quinny said:

el stovey said:

I'm not sure why people on here get so excited at the prospect of someone else having their pension scheme closed.

Jealousy

When the government starts paying me a final salary scheme, then I'll quit complaining.

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el stovey said:

Puggit said:

Quinny said:

el stovey said:

I'm not sure why people on here get so excited at the prospect of someone else having their pension scheme closed.

Jealousy

When the government starts paying me a final salary scheme, then I'll quit complaining.

Why didn't you get a job working for the government that offered a FS pension scheme?

<shudder>

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Quinny said:

KrazyIvan said:

Quinny said:

pugwash4x4 said:

public sector often forgets that its our taxes that pays their pensions!

That's right, I never contributed a penny from my own salary

Not enough though and there in lies the problem

Not MY problem.. I didn't set up the scheme.....

Well it's our problem, and the problem has been known about for many years. So why should we pay for future members?

By all means, keep the pension you were promised - but we shouldn't pay for new ones!

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TheDetailDoctor said:

I can't see what's wrong with FS pensions personally, but perhaps I'm biased.

Where's the pot of money to pay for them?

With my private pension, I pay a percentage of my salary in to a pot and so does my employer. When I retire, I can spend that pot (which has been invested with some risk so I can try and increase the meagre sum in the pot, so may be worth more or less than I paid).

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Quinny said:

One other thing, some people fail to realise, is that during my and my colleagues employment, the pension scheme was often used as a bargaining tool during pay negotiations...

I can recall quite a few occasions, where the bosses said, we can only give you x% this year, but we'll increase pension benefits by x%...

Maybe they should have given us improved pay instead, but they didn't. So many of us are now benefiting from agreements that took place years and years ago...

The fact that the tax payer has to foot the bill is tough st.... I pay tax on many things that don't benefit me, just like everyone else in the country has to

I think most people have agree that you can keep the pension you agreed with your employer for.

None of the pro-FS pension group in this thread have come up with a valid reason why new public sector employees should get such a pension...?

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el stovey said:

They justify it by spouting about how their (obviously massive) tax contributions pay for it, "why should I pay for (insert whatever) when I don't get it!" Some people's tax is clearly going a long way.

Or we are being over-taxed to pay for things that people don't deserve.