3% Increase in Pension Contributions

[Poshpost]

Are Royal Mail employees considered public service workers and therefore covered by the annoucement yesterday contained in the Spending Review that public service workers will see their pension contributions increase by 3% in April 2012?

[RobertT]

Are Royal Mail employees considered public service workers and therefore covered by the annoucement yesterday contained in the Spending Review that public service workers will see their pension contributions increase by 3% in April 2012?

No we're not public sector workers. We could be if RM is privatised and the government/taxpayers take on the pension deficit.

I think some NHS workers only pay something like 1.5% into their pensions, we pay 6%.

[BELIAL]

I think you'll find the employee rate of contribution for public sector workers ,police ;fire; teachers ;nurses etc is a standard 6% . If you take the 3% increase in contributions alongside the 3 year wage freeze and RPI at 4% + then it adds up to a massive pay cut.
Don't think I would be very comfortable about handing more of my wages over for safekeeping to a party that was responsible for introducing the big bang deregulation of the UK financial markets.

[RobertT]

OK I got my 1.5% wrong although I'm sure someone said that on TV yesterday.

Anyway according to the BBC pension employee rates are:

NHS = 5% - 8.5%
http://www.bbc.co.uk/news/business-11446832" onclick="window.open(this.href);return false;
Police = 9.5% or 11%
http://www.bbc.co.uk/news/business-11446830" onclick="window.open(this.href);return false;
Teachers = 6.4%
http://www.bbc.co.uk/news/business-11446829" onclick="window.open(this.href);return false;

[BELIAL]

Blimey RobT think I would pay 11% into a scheme that gave me 2/3 final salary and a retirement age of 50
Unfunded Wonder what the deficit would be if it was a "real" pension scheme after all crime is down and it doesn't pay. Do you think the govt will liberalise the policing market ,surely a state run monopoly is just not modern or efficient

[belle smith]

Do you think the govt will liberalise the policing market ,surely a state run monopoly is just not modern or efficient

Don't give them ideas Belial

[BELIAL]

Just curious but ,given the state of the nation ,all these useless benefit scroungers and the need for fairness and all,anybody notice that the parasites who earn enough to be taxed at 40% qualify for a state payment of £800 per week, up to a maximum of £600,000 of course Just think ,Crozier was getting £800 benefit pay a week from your tax money Moya still can .Keep on lapsing