A lot of LG pension schemes are not invested. One I know of one, a Police and Fire Brigade scheme that uses the workers monthly contributions to pay their pensioners and some. I think their local government finance department would rather that fact is hidden. It certainly isn't invested. Maybe it's just as well as they had nothing to loose when the crises was at its worse.

No one doubts having some workers go on to 70 could be a liability like your example of Police and Fire. No doubt there are plenty of backroom jobs like Court Offier or Control Room they could do. Anyway, I've not heard that one to be honest, on the other hand both services can retire at 49 years old with 25 to 30 years service with a 40/60ths final salary and that's plain stupid and not affordable.

Giving Gordon Brown the blame for the demise of the private final salary schemes is plain wrong, but then it seems to be a bandwagon a lot were jumping on if their political alliance dictated it and school leavers getting jobs has always been a problem with or without a degree. In these times people staying on has nothing to do with it, it's just a general downturn in the economy. In any case 99% of new pensioners get part time or full time jobs after retiral. The Ambulance service is full of retired Police and Firemen.

Can the title be changed to "Who was on strike yesterday", original title is now out of date

But yesterday will be the wrong day tomorrow

just change the title to

"who is a moaning lazy good for nothing just out for himself"






ps. I'm in a good mood my farm subsidy cheque arrived today  At work
At home

"I can't always believe facts I read on the web" - Charles Dickens

winner by default of the tractor vs caravan race

You don't see a poor farmer! Plenty say they are. I know one that put 1/4 million in his pension pot this year after the subsidies hit his bank.

dunroof wrote:

Giving Gordon Brown the blame for the demise of the private final salary schemes is plain wrong,

Sorry to disagree but it was government in power that changed the tax/accounting rules about pension funds and GB was CoE. Since then we have seen the demise of final salary pension schemes to the detriment of us all. If the government wasn't to blame..who was ...Sooty?

EYorkshire wrote:

But yesterday will be the wrong day tomorrow

Off topic but I remember Victor Meldrew's take on that. He said the past doesn't exist because it's gone forever. The future doesn't exist because it hasn't happened yet and the present doesn't exist because by the time you've had chance to think about it, it's gone forever!  LL.B (Hons) - University of Derby
LOT (Lord of Time) - University of Gallifrey

Could have been Sweep, just as ridiculous as your suggestion!

Must say it has been a pleasure to join in a discussion which is HIGHLY emotive for some and no-one has resorted to insults or unpleasantness!

I must say discussions in my LG place of work haven't been so pleasant for some

just what a good forum is all about  2002 Honda VFR800
2002 Toyota Celica 140 Silver (mid life crisis - again!)
2007 FL2 GS Manual Army Reconnaissance Green + freel2.com sticker
2004 Toyota Celica 140 Black - Gone
2000 Toyota Celica 140 Silver - Gone
1998 Toyota Celica ST Pearl Green - Gone
1996 Nissan Primera 1.6 - Gone
1994 Rover Montego 1.6 Auto - Gone

It's early days yet

Fire Service cannot retire at 49 although I believe the Police still can. Both those schemes are funded by the employees and an employer contribution (much like a lot of private schemes). Unlike private schemes, the contributions are not invested but are used by the employer as part of their budgets.
The politics of envy is a terrible thing and it seems that those with a less beneficial pension would rather see others brought down to their level than fight for improments! Even the Hutton report that started all this clearly states, "This should not be a race to the bottom".
I did not strike on the 30th but respect those that did to try and protect what they were promised and is now being taken away.
And for those that think it doesn't affect them, the change from RPI to CPI, the rate against which pensions are increased will reduce the amount paid to most of you.