barny_100 Posted February 17, 2009 Share Posted February 17, 2009 Lets compare: Average business leaders (top 100 firms) annual Pension: £333,400 http://www.mirror.co.uk/advice/money/2008/09/02/fat-cat-bosses-have-1billion-stashed-in-pension-funds-115875-20721364/ The average Civil Servants annual Pension £4,000 http://www.pcs.org.uk/en/department_for_transport_group/dft-news/index.cfm/id/E42195D2-E40E-4595-AAA022ECE889A2C1 And the CBI thinks public sector Pensions are too generous? Lets compare the 100 top civil servants shall we rather than the cooked figures (I would have thought the average would be greatly reduced by people who only did 5-10 years, part-time workers etc) you just did? Still not a real comparison but better anyway. http://www.guardian.co.uk/politics/2006/nov/27/economy.immigrationpolicy At least 100 senior civil servants have pension pots worth more than £500,000, a survey by the Taxpayers' Alliance reveals today ahead of legislation to be published this week designed to raise the pension age for most private sector workers. EDIT: Also how much do they contribute to get their pensions? I put in 6% and my employer puts in 6%. I understand most public servants put in less than the taxpayer by quite a lot. Link to comment Share on other sites More sharing options...
anarchist Posted February 17, 2009 Author Share Posted February 17, 2009 Lets compare: Average business leaders (top 100 firms) annual Pension: £333,400 http://www.mirror.co.uk/advice/money/2008/09/02/fat-cat-bosses-have-1billion-stashed-in-pension-funds-115875-20721364/ The average Civil Servants annual Pension £4,000 http://www.pcs.org.uk/en/department_for_transport_group/dft-news/index.cfm/id/E42195D2-E40E-4595-AAA022ECE889A2C1 And the CBI thinks public sector Pensions are too generous? What has that got to do with anything? You could equally argue that the average retired Prime Minister gets a far larger pension than the average retired taxi driver. If you want to compare private sector pensions with public sector pensions that is fine by me. What age do public sector workers retire compared with those in private industry? I think you will also find that the average worker in the private sector contributes more towards public sector pensions than he does to his own diminishing pension fund. Link to comment Share on other sites More sharing options...
anarchist Posted February 17, 2009 Author Share Posted February 17, 2009 Lets compare the 100 top civil servants shall we rather than the cooked figures (I would have thought the average would be greatly reduced by people who only did 5-10 years, part-time workers etc) you just did? Still not a real comparison but better anyway. http://www.guardian.co.uk/politics/2006/nov/27/economy.immigrationpolicy EDIT: Also how much do they contribute to get their pensions? I put in 6% and my employer puts in 6%. I understand most public servants put in less than the taxpayer by quite a lot. From the Guardian Oct 2008. The average public sector pension is worth three times as much as the typical scheme still open to workers in the private sector, research showed today. A report by the Pensions Policy Institute (PPI) said most new employees in the public sector could still join generous final salary schemes worth around 21% of their salary. In contrast, employees in the private sector are more likely to be offered a defined contribution scheme typically worth just 7% of their pay. The PPI said public sector employees were also more than twice as likely to be members of an employer-sponsored pension scheme than those in the private sector - 85% compared with 40%. The majority of public sector workers are in a final salary pension, under which their retirement payouts are guaranteed according to their pay and how long they have belonged to the scheme. But only around 15% of workers in private companies are active members of one of these schemes, with the rest belonging to the less generous defined contribution ones. In these schemes the company only guarantees the level of the contributions it will make, leaving the individual to shoulder all of the risk. The research showed employers contributed an average of £4,000 a year to public sector pensions for each worker, compared with average contributions of just £1,600 for each worker in a private sector scheme. Staff in the public sector also contributed more than those who work for private companies. Link to comment Share on other sites More sharing options...
Wildcat Posted February 17, 2009 Share Posted February 17, 2009 EDIT: Also how much do they contribute to get their pensions? I put in 6% and my employer puts in 6%. I understand most public servants put in less than the taxpayer by quite a lot. The current Civil Service Pension has a 3.5% contribution for a Pension 2.5% of Pensionable earnings each year. You have only given your contributions. What do you get out at the end? Is that really so great? http://www.civilservice-pensions.gov.uk/_/media/assets/www.civilservice_pensions.gov.uk/publications/pc_nop%20pdf.pdf Link to comment Share on other sites More sharing options...
kipper Posted February 17, 2009 Share Posted February 17, 2009 Taxi Evaders seem to be doing OK, seeing they are the only people I know BUYING houses for cash. In the next 20 years the pension system will have collapsed anyway so best get a job that you can work at part time till you drop. Link to comment Share on other sites More sharing options...
Streamline Posted February 18, 2009 Share Posted February 18, 2009 Lets compare the 100 top civil servants shall we rather than the cooked figures (I would have thought the average would be greatly reduced by people who only did 5-10 years, part-time workers etc) you just did? Still not a real comparison but better anyway. http://www.guardian.co.uk/politics/2006/nov/27/economy.immigrationpolicy Nice one Barny. Have you seen this: Pensions Public Vs Private The average private sector worker retires with a pension pot worth £25,100 - enough to pay them about £1,700 a year. The average public sector worker will retire with a pot of £427,275 - worth £17,091 a year. Link to comment Share on other sites More sharing options...
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