truman Posted July 6, 2011 Author Share Posted July 6, 2011 Very few teachers get the full 40 years in. I don't know any, and I know a lot of teachers. Many leave within 5 years (which tells you a lot about the job.) Or about the teachers.. Link to comment Share on other sites More sharing options...
crookesey Posted July 6, 2011 Share Posted July 6, 2011 Very few teachers get the full 40 years in. I don't know any, and I know a lot of teachers. Many leave within 5 years (which tells you a lot about the job.) So, what do you advocate? They have accrued 5/80 of their final salary factored up by inflation or national average earnings, if they move to another public sector job they simply use the ' public sector pensions club.' I agree on the 40 years, which is impossible if they leave university at age 21 and then do their 12 months probationary period, that's why I used 38 years. However they usually get early enhanced retirement terms on the grounds of stress far earlier, and then sign on with a teaching agency, the jobs a good un. Link to comment Share on other sites More sharing options...
iphonelover Posted July 6, 2011 Share Posted July 6, 2011 One area of the public sector which is overpaid is the civil service, i.e dwp, home office, jcp office staff are totally overpaid for what they do. I worked for them for 12 years so have the right to say ths. I left. Found other office work for private companies to have a lot more responsibility, less benefits and lower pay! Cut their wages and up nurses etc... Link to comment Share on other sites More sharing options...
quisquose Posted July 6, 2011 Share Posted July 6, 2011 So, what do you advocate? They have accrued 5/80 of their final salary factored up by inflation or national average earnings, if they move to another public sector job they simply use the ' public sector pensions club.' I agree on the 40 years, which is impossible if they leave university at age 21 and then do their 12 months probationary period, that's why I used 38 years. However they usually get early enhanced retirement terms on the grounds of stress far earlier, and then sign on with a teaching agency, the jobs a good un. 5/80 of a teacher's salary would accrue a pension of approx £1500 pa. Not bad for 5 years employment. Somebody in the private sector will need an annuity of £30k to provide that. Edit: My wife got some pension literature from the NHS yesterday. She works part-time, but if she sticks it out until she's 65 she'll be entitled to a pension of £24k. She was a bit shocked when I told her she would have to save nearly half a million to get those benefits if she was doing it for herself. Link to comment Share on other sites More sharing options...
Happ Hazzard Posted July 6, 2011 Share Posted July 6, 2011 It's funny how bog-standard office workers in the public sector all think they'd be managers in the private sector. I think a lot of them are in a massive shock if they lose their jobs. Link to comment Share on other sites More sharing options...
RichJay Posted July 6, 2011 Share Posted July 6, 2011 Comparisons such as this have no validity as is pointed out every other time these are raised looking at public\private sector pay. From most of the previous comparisons I have seen you would be correct but this ONS reports adjusts for sex, age, occupation, region and sector which makes it a much more valid comparison. Link to comment Share on other sites More sharing options...
truman Posted July 6, 2011 Author Share Posted July 6, 2011 From most of the previous comparisons I have seen you would be correct but this ONS reports adjusts for sex, age, occupation, region and sector which makes it a much more valid comparison. Yep,that's why this report is different.. Link to comment Share on other sites More sharing options...
crookesey Posted July 6, 2011 Share Posted July 6, 2011 I think that certain folk who consider themselves untouchable should read and take note of the following. The Games Up. Link to comment Share on other sites More sharing options...
wednesday1 Posted July 6, 2011 Share Posted July 6, 2011 It's not only that, I await the usual backlash, but the truth is that public sector employees, more often than not, class themselves as the elite, and the private sector as a necessary evil. staffed and run by capitalists. Think the phrase is 'semi-educated businessmen'. Link to comment Share on other sites More sharing options...
wednesday1 Posted July 6, 2011 Share Posted July 6, 2011 5/80 of a teacher's salary would accrue a pension of approx £1500 pa. Not bad for 5 years employment. Somebody in the private sector will need an annuity of £30k to provide that. Edit: My wife got some pension literature from the NHS yesterday. She works part-time, but if she sticks it out until she's 65 she'll be entitled to a pension of £24k. She was a bit shocked when I told her she would have to save nearly half a million to get those benefits if she was doing it for herself. Spot-on, if you have the good fortune to be in a final salary pension scheme, hold onto your job for grim death! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.