The next Tory recession?

[I1L2T3]

I'm not an employer and I still understand this.

I could get at least £5k extra per year in the private sector but with an inferior pension.

 

I find it incredible that anybody would deny it. It's money we're given. It goes into an investment portfolio which provides us with substantial extra income in retirement.

 

It's so obvious that this is a form of remuneration that you'd have to be completely barking to suggest otherwise.

 

Problem is the pension benefit is impossible to measure, more so for public sector workers. Any benefit is deferred for decades and might never materialise at the levels in the recent studies.

 

Company cars, fuel benefit, private health cover, gym membership etc... would be better things to measure. These are typically things that private sector workers get and have a tangible current value.

 

There's about 1 million workers who receive some kind of car/fuel benefit

 

There are over 4 million private health care subscribers in the UK, many of them getting cover through work and most of those in the private sector

 

The pension argument is a bit of a sideshow but let's ask the question that nobody asks:

 

If (and it is an if) public sector workers get higher salaries on average than private sector workers why does it matter?

[WiseOwl182]

 

If (and it is an if) public sector workers get higher salaries on average than private sector workers why does it matter?

 

 

Because, in that scenario if true, it would be the private sector employees earning less money and paying taxes out of it to fund their public sector equivalents being paid more to do the same job.

[I1L2T3]

Because, in that scenario if true, it would be the private sector employees earning less money and paying taxes out of it to fund their public sector equivalents being paid more to do the same job.

 

But they (mostly) don't do the same jobs.

[WiseOwl182]

But they (mostly) don't do the same jobs.

 

 

It is only fair to make like for like comparisons. Just saying "private sector employees get paid more/less" is meaningless.

 

In my experience, for professional office based jobs in any case, private sector pays more but the pensions aren't as good and a lot more is expected of you, which if you're a "go getter" that likes to be chained to a desk until at least 6pm is great news, but if you value a work-life balance the lower pay in the public sector is probably worth it.

[I1L2T3]

It is only fair to make like for like comparisons. Just saying "private sector employees get paid more/less" is meaningless.

 

In my experience, for professional office based jobs in any case, private sector pays more but the pensions aren't as good and a lot more is expected of you, which if you're a "go getter" that likes to be chained to a desk until at least 6pm is great news, but if you value a work-life balance the lower pay in the public sector is probably worth it.

 

How are the pensions not as good? How do you know they won't be?

[Eric Arthur]

Problem is the pension benefit is impossible to measure.

 

Preposterous. Your employer knows to the penny. Ask them.

[WiseOwl182]

How are the pensions not as good? How do you know they won't be?

 

 

Because very few private companies still offer defined benefit schemes. Most are defined contribution, and the employer contribution towards them isn't usually that good either.

[I1L2T3]

Preposterous. Your employer knows to the penny. Ask them.

 

Ah OK, so how much more do public sector employees get? Each year? On average. Should be easy to answer.

 

---------- Post added 02-09-2015 at 23:03 ----------

 

Because very few private companies still offer defined benefit schemes. Most are defined contribution, and the employer contribution towards them isn't usually that good either.

 

But what are the schemes worth in terms of 'pay'?

 

What are the figures?

 

I think we could very accurately work out the benefits from BUPA, company car etc...

Edited September 2, 2015 by I1L2T3

[El Cid]

if you're a "go getter" that likes to be chained to a desk until at least 6pm is great news, but if you value a work-life balance the lower pay in the public sector is probably worth it.

 

I got a council job due to not working weekends, family friendly hours.

 

When my child is no longer in schooling I will either need two jobs, or look for one that pays more. I have been working for the council around 8 years.

[unbeliever]

But what are the schemes worth in terms of 'pay'?

 

What are the figures?

 

I think we could very accurately work out the benefits from BUPA, company car etc...

 

You could start by adding what your employer pays into your pension fund.

That's not hard. In my public sector job, my employer pays in more than I do.