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PricedOutNative

Unfunded Public Sector Pensions

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Dinner party conversation at the weekend turned to this:

http://www.professionalpensions.com/801477

So great, another missive financial issue we’ve been pushing into the future, the problem being the future is nearly here and we are in poor shape. I expect people thought by now we’d have personal nuclear fusion reactors and flying cars etc.. and the pension liability would make little dent from our miracle economy…

The government can either bankrupt the country to honor these promises or withdraw them ,possibly causing such widespread strike action that the government falls..

If any of you have an idea on how to solve this issue please write to:

Chancellor of the Exchequer

11 Downing Street,

Whitehall, London

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Dinner party conversation at the weekend turned to this:

http://www.professionalpensions.com/801477

So great, another missive financial issue we’ve been pushing into the future, the problem being the future is nearly here and we are in poor shape. I expect people thought by now we’d have personal nuclear fusion reactors and flying cars etc.. and the pension liability would make little dent from our miracle economy…

The government can either bankrupt the country to honor these promises or withdraw them ,possibly causing such widespread strike action that the government falls..

If any of you have an idea on how to solve this issue please write to:

Chancellor of the Exchequer

11 Downing Street,

Whitehall, London

See my thread on state collapse. :ph34r:;)

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Dinner party conversation at the weekend turned to this:

http://www.professionalpensions.com/801477

So great, another missive financial issue we’ve been pushing into the future, the problem being the future is nearly here and we are in poor shape. I expect people thought by now we’d have personal nuclear fusion reactors and flying cars etc.. and the pension liability would make little dent from our miracle economy…

The government can either bankrupt the country to honor these promises or withdraw them ,possibly causing such widespread strike action that the government falls..

If any of you have an idea on how to solve this issue please write to:

Chancellor of the Exchequer

11 Downing Street,

Whitehall, London

Do you have a hostess trolley?

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I don't but my parents have had one for many years, despite the sniggers, it is a useful device, it allows the hosts to prepare all the food and keep it warm so they can enjoy a drink with guests before the main course.

Enough with the kitchen appliance chit chat, leave that to the ladies ;) , how is the govenment going to pay pensions? Inflation; is that not the answer?

Do you have a hostess trolley?

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I don't but my parents have had one for many years, despite the sniggers, it is a useful device, it allows the hosts to prepare all the food and keep it warm so they can enjoy a drink with guests before the main course.

Enough with the kitchen appliance chit chat, leave that to the ladies ;) , how is the govenment going to pay pensions? Inflation; is that not the answer?

Yep, technical payment via devalued currency.

£20,000 a year pension?

And a £4,000 stamp to post off to claim it, in a £2,400 envelope.

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i would think by now the non public workers are going to begrade shelling out pensions for the ver councils that snoop on them.

theres no way id sacrifice my elderly security to pay for someone else pension needs.

they should save for a pension like everyone else.

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This sounds another divide and rule tactic. I was promised nice big pension, now it's nearly time to collect it, it's worth peanuts even after contributing sound money. This country is one big fat Robert Maxwell. If the future economy wont sustain their pensions then the pensioner will received reduced pension irrespetive of contracts and promises. Norwich Union ring a bell

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This sounds another divide and rule tactic. I was promised nice big pension, now it's nearly time to collect it, it's worth peanuts even after contributing sound money. This country is one big fat Robert Maxwell.

totally. anything you contribute for you dont get in the uk.

pensions. council houses. dentists. tax tax tax.

on top of that we pay some of the highest taxes in the world.

we get little value for money. the country has a minority income and global tastes in power.

even now our PM isnt here. hes hardly here.

today hes in israel meddling in the middle east again.

pathetic really.

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Guest DissipatedYouthIsValuable
This sounds another divide and rule tactic. I was promised nice big pension, now it's nearly time to collect it, it's worth peanuts even after contributing sound money. This country is one big fat Robert Maxwell. If the future economy wont sustain their pensions then the pensioner will received reduced pension irrespetive of contracts and promises. Norwich Union ring a bell

Sound lending practices might have made the monetary system less unsound.

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.

on top of that we pay some of the highest taxes in the world.

No we don`t - You want to try living in Germany , Holland or Sweden ...

Edited by Wires 74

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Dinner party conversation at the weekend turned to this:

http://www.professionalpensions.com/801477

So great, another missive financial issue we’ve been pushing into the future, the problem being the future is nearly here and we are in poor shape. I expect people thought by now we’d have personal nuclear fusion reactors and flying cars etc.. and the pension liability would make little dent from our miracle economy…

The government can either bankrupt the country to honor these promises or withdraw them ,possibly causing such widespread strike action that the government falls..

If any of you have an idea on how to solve this issue please write to:

Chancellor of the Exchequer

11 Downing Street,

Whitehall, London

The council workers pension is the LGPS (Local Government Pension Scheme) and is funded.

So what pensions schemes are you refering to ?

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I say we should invest in the stock market, the free market can provide.

Even the state pension scheme will go under due to the stupidity of how it's been funded. The money we pay in now is paying out current pensioners which means if there are more retired people than workers you have a bit of a problem. Another genius scheme by our political elite.

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No we don`t - You want to try living in Germany , Holland or Sweden ...

Yes, but don't you get something for your money and not a poverty based social security system

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The council workers pension is the LGPS (Local Government Pension Scheme) and is funded.

So what pensions schemes are you refering to ?

My wife works for LG and I've just checked her pay slip and she's paying 10% of her income in employees contribution, the public sector is about 4% - 7%. just googled that.

Like I said Divide and rule. While we fight over Public sector pensions, we don't notice we are endlessly being screwed.

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My wife works for LG and I've just checked her pay slip and she's paying 10% of her income in employees contribution, the public sector is about 4% - 7%. just googled that.

Like I said Divide and rule. While we fight over Public sector pensions, we don't notice we are endlessly being screwed.

Looking at the article in the OP link it is a view put forward by business, Tories and industry.

That

Head of pensions research Tom McPhail said: "It is unfair to ask private sector workers to guarantee retirement security for the public sector without being able to achieve it themselves."

This is the view that is pushed and that the general public adopt. Instead of saying hang on whats happened to our private sector pensions?, have not been able to achieve it themselves!!!

you mean was unable or unwilling to stop their pensions being robbed off them.

Instead of demanding that the public sector workers should have their pensions taken off them they should be demanding

a reinstatement of their own pensions.

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how is the govenment going to pay pensions? Inflation; is that not the answer?
Not really, most public sector pensions are index linked.

No. PricedOutNative was right. Intentional miscalculation of inflation figures is the stealth solution that provides mismanaged government with the opportunity to meet their outstanding debt obligations when these obligations cannot feasibly be met.

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Instead of demanding that the public sector workers should have their pensions taken off them they should be demanding

a reinstatement of their own pensions.

When the workers at the Grangemouth refinery recently went on strike to protect their pensions they were more or less vilified - including by several posters on here ...

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When the workers at the Grangemouth refinery recently went on strike to protect their pensions they were more or less vilified - including by several posters on here ...

What people don't seem to understand that it maybe someone else now but its them next.

It maybe pensions now but its redundancy payments or sick pay being attacked next.

Next the argument will be, why should those in the public sector get sick pay when we in the private sector don't.

Its a race to the bottom that working people in general will only ever lose from.

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Not really, most public sector pensions are index linked.

Which is the most important reason for under-reporting inflation.

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In ten years time, occupational pensions will be a thing of the past. A considered 'luxury' that business or governments can't afford.

The mine is exausted. If you're anywhere near retirement age, I'd suggest claiming what's left now before it's too late.

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What people don't seem to understand that it maybe someone else now but its them next.

It's a shame you did not explain that to the public sector workers as Gordon was getting ready to retrospectively raid pension funds. That is, pension funds that owned realisable assets, and not just a promise to appropriate the money in the future from whoever might happen to still have some at that time. It is only fair that public sector workers also have their pensions raided.

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When the workers at the Grangemouth refinery recently went on strike to protect their pensions they were more or less vilified - including by several posters on here ...

Yes that sort of thing always seems to happen, whenever a group of workers go on strike you will get people saying things like i get less than these people and im not striking, when they should be thinking if these people win and get more maybe i could . The english workers kick themselves where it hurts all the time. Thats why we have such a low standared of living .

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It's a shame you did not explain that to the public sector workers as Gordon was getting ready to retrospectively raid pension funds. That is, pension funds that owned realisable assets, and not just a promise to appropriate the money in the future from whoever might happen to still have some at that time. It is only fair that public sector workers also have their pensions raided.

By this kind of logic if I get mugged instead of resisting the mugger I should myself mug the next passer by.

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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