Interesting how so many want paid for benefits from a private company to be removed.
At the peak 28% of my gross salary was going into my pension scheme - a mixture of company contribution and deduction from my salary.
OK, so since putin has started his games, my pension (and I'm sure several other peoples's too) have taken a knock, tough on me. But lets say they go off a real cliff, you'll expect present contributors to your scheme to make sure you get your n/80ths that you were promised?
IIRC the hull speed of a vessel in knots is 1.7 * sqrt(L)
I make that about 17 knots... but this is a side issue.
Andy
Ah, I see. It seems you don't have a good grasp of inflation.
I went out to dinner yesterday with my wife and one of our kids. I paid, and I think it was about £80, drinks service charge, the lot.
With 10% per annum inflation next year I'll still have the same number of pounds.
But the bill will now be £88.
The value of my money is decreasing.
I need those dividends to pay the rising prices.
Andy
sorry should have been 1000 ft cruise ship..
I fully understand inflation and made the comment above about it. You, however, are wriggling and seeking to conflate a number of issues in attempt to prove your argument.
I'm not wasting further time on this.
I'd expect the trustees of the scheme to explain things to me, before making cuts. Unlike a private one where they'll make sure the board and shareholders are the last to suffer.
<cough> 10,000 ft actually. Which is why all fast vessels are planing hulls.
Andy.
You don't have to lift it out of the water - the one I was in yesterday doesn't lift out of the water, but it sometimes does exceed hull speed, even under sail.
I can give you chapter and verse on how and why, even to hydrofoils, if you want, but that isn't really a DIY project. uk.rec.sailing is over there, and there's nothing else going on.
Andy
On that we can agree.
Andy
BS. More like 18% and you only paid 6% of that, if that.
How do you know it's BS?
(I've been putting ~40% of gross in the last few years via salary sacrifice. How much of that you regard as being mine, and how much the company, is another matter.)
Andy
Final salary pensions are just another facet of the unsustainable pensions Ponzi setup. They should not exist at all - for anyone.
On what basis are you claiming that they are unsustainable ?
Nothing even remotely like a Ponzi scheme.
That's bullshit with some govt employees.
I've got the Andrew person killfiled for obvious reasons. ;-)
Quite. My final salary pension scheme seems to be about as good as they get by chatting to friends with similar. But like most such things, a decent one costs.
The figure I quoted was the peak one. It did go down in later years - although the company contribution was reduced by more (percentage wise) than the employee one.
Put it this way. I grumbled about how much it cost me when paying in. I'm now rather grateful I had no option.
I'll take your opinion has having the same validity as any other true blue Tory. As basically having an ulterior motive. Certainly not for the good of the individual.
It depends.
I've got part of my pension in a "final salary" (defined benefit is the proper term) scheme. It's index linked - up to a maximum of 5% a year. Which means it's just shrunk. Unlike civil service ones...
My employer put money aside to pay my pension while I was working there, and AFAIK it's fully funded. Unlike civil service ones...
Andy
On 13/06/2022 22:15, Vir Campestris wrote: <snip>
Not all "defined benefit" schemes are "final salary". The civil service for example switched to "career average" a decade ago. That got rid of the jumbo rewards to a few, usually senior, staff who were promoted several time, including late in their working life. (Though if you want egregious examples of that look to the BBC.)
Those a certain way through their career were given the option to shift to the new scheme or stay on the old - my wife was given the same option, having worked in the NHS for many years.
I thought civil service ones were linked to CPI these days - or is that just state pensions?
HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.