I1L2T3 Posted September 3, 2015 Share Posted September 3, 2015 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. OK, easy peasy then. Now what are figures? Link to comment Share on other sites More sharing options...
Eric Arthur Posted September 3, 2015 Share Posted September 3, 2015 (edited) Ah OK, so how much more do public sector employees get? Each year? On average. Should be easy to answer. £4,000 extra per year extra into their pension. Let's just call it an extra £100k into the pension if they take early retirement at 45 plus a very nice five figure redundancy package offered due to the evil Osborne's "cuts". Edited September 3, 2015 by Eric Arthur Link to comment Share on other sites More sharing options...
I1L2T3 Posted September 3, 2015 Share Posted September 3, 2015 £4k a year? Prove it. Link to comment Share on other sites More sharing options...
unbeliever Posted September 3, 2015 Share Posted September 3, 2015 £4k a year? Prove it. Did you read those documents I posted yesterday on this thread from the IFS and ONS? What more proof do you need? Do you want to physically see the money? Do you need the a letter signed by a god? This denial is rather preposterous. The facts are in. You were wrong. Deal with it. Link to comment Share on other sites More sharing options...
Eric Arthur Posted September 3, 2015 Share Posted September 3, 2015 £4k a year? Prove it. OK. Institute of Fiscal Studies, October 2014. Link to comment Share on other sites More sharing options...
I1L2T3 Posted September 3, 2015 Share Posted September 3, 2015 Difference is minimal according to the ONS http://www.bbc.co.uk/news/business-26512643 To create a difference the IFS had to bake in a questionable algorithm based on estimate of future pension values. They must have an excellent crystal ball. The ASHE used by the ONS doesn't include pensions. Or cars, overtime, health cover etc... Link to comment Share on other sites More sharing options...
WiseOwl182 Posted September 3, 2015 Share Posted September 3, 2015 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. Yes, that was my point. Sometimes lower pay is worth it for work-life balance reasons. ---------- Post added 03-09-2015 at 08:52 ---------- Difference is minimal according to the ONS http://www.bbc.co.uk/news/business-26512643 To create a difference the IFS had to bake in a questionable algorithm based on estimate of future pension values. They must have an excellent crystal ball. The ASHE used by the ONS doesn't include pensions. Or cars, overtime, health cover etc... Which ever sector you think pays higher, it is irrelevant to compare averages from both. A better comparison would be to choose well defined positions, such as accountant, architect, nurse, etc, and compare total average remuneration from each. Pensions would have to be included. Defined benefit schemes are very easy to quantify, by definition. Example, 2/3 final salary. Link to comment Share on other sites More sharing options...
El Cid Posted September 3, 2015 Author Share Posted September 3, 2015 £4,000 extra per year extra into their pension. What it does mean, that my employers pays 12%+ into my pension is that I have to pay 5%+ into it too; that means my pay is lower. How many workers voluntarily pay 5%+ into their pension? The eighth Scottish Widows annual report on UK pensions found that less than half of the population is putting enough aside for their retirement, with 22% saving nothing at all. Link to comment Share on other sites More sharing options...
Eric Arthur Posted September 3, 2015 Share Posted September 3, 2015 Difference is minimal according to the ONS http://www.bbc.co.uk/news/business-26512643 To create a difference the IFS had to bake in a questionable algorithm based on estimate of future pension values. They must have an excellent crystal ball. The ASHE used by the ONS doesn't include pensions. Or cars, overtime, health cover etc... Preposterous. You are actually putting your instantly formed opinion above an extensive piece of research by the Institute of Fiscal Studies. Even the ONS say that public sector pay is higher anyway. It's best that you quietly withdraw from the discussion while you have some dignity left Link to comment Share on other sites More sharing options...
unbeliever Posted September 3, 2015 Share Posted September 3, 2015 Preposterous. You are actually putting your instantly formed opinion above an extensive piece of research by the Institute of Fiscal Studies. Even the ONS say that public sector pay is higher anyway. It's best that you quietly withdraw from the discussion while you have some dignity left Quite right. There's ample evidence been linked now from the recognised experts. Public sector remuneration is higher. It's proven. It's a fact. It can't be willed away. ---------- Post added 03-09-2015 at 09:14 ---------- What it does mean, that my employers pays 12%+ into my pension is that I have to pay 5%+ into it too; that means my pay is lower. How many workers voluntarily pay 5%+ into their pension? The eighth Scottish Widows annual report on UK pensions found that less than half of the population is putting enough aside for their retirement, with 22% saving nothing at all. It's all voluntary. You don't have to join the pension scheme. I advise you to stay in though as it's extremely good value and you don't want just the state pension when you retire. Link to comment Share on other sites More sharing options...
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