General Chat

Our increase, when there is one, comes in October. It is at the discretion of the trustees and can be up to a maximum 5%. It is usually linked to the inflation index, but not always.

There was no increase last year because they felt the fund could not afford it, and with inflation in minus figures they thought it wouldn't be too much of a hardship. They also hinted that an increase this year might not be automatic either even if inflation was positive - around 3% I think at the moment.

By then you may not be bothered about lipstick !!!

Marion,
When I got married I didn't have the opportunity to take marriage gratuity, can't remember why, either not long enough service or too young. This was 1960. I was out of the civil service from 1961 until 1982 but they managed to scrape my previous service into my pension which I suppose was one good thing.
Local gov't I worked at local council for 5 years but took a lump sum when we moved and I left (needed the money for a cooker!). Maggie I worked in the finance department too. First in wages, then in housing rents, then in creditors and also as relief cashier. can't remember what my grades were in those days (1976 to 1981.

Yes Ann, that´s quite right about the low pay in the Civil Service.
The other big con was the "marriage gratuity" whereby you recieved a lump sum when you got married, but lost all your pension rights. I actually lost 12 years which is why I only get a small Local Government pension as I did various other jobs in between the two while the children were small. Had it not been for the marriage gratuity, my pension would be double what it is now, but the consequences of taking it were never really explained. (bit like paying the married woman´s stamp, which thankfully I never did) I can well remember people I worked with claiming benefits because their salaries were so low.
Marion

I did similar work in the private sector a few years back - and even then I was earning more than I'm earning now!
The only bonus about working for the council is I can walk to work. (just under 2 miles)
When I was in the private sector I was spending £9 a day in fares - and my day was 2 hours longer (travelling)

Mind you - even with the fares, I was getting more!!

Before they changed the grades, I was a finance assistant - now I'm a 'senior administrative assistant' - whatever that is - but am doing more finance than before.
They employed a manager above me who is (apparently) a financial whizz - but knows nothing about the financial system we use - and I'm doing half her work!

In my job in the private sector, I was responsible for the countrywide distribution, invoicing, paying and collecting of monies for LPG and natural gas used by cars. (new at the time)

Now I pay invoices - why? Because I can't bullsh*t!!
Do I let on to the manager what I know? No!! Why should I help an obvious bullsh*tter!! LOL

thanks for that Ann, I thought we had been told that but have not seen it any of the papers so thought I had maybe dreamed it.

I agree Ann, but folk only see what the papers print and don't realise. I was a Civil Servant in the same period as you and when I joined I was told we were paid 15% lower salary than in the private sector because we got an index linked pension. In other words, although we didn't contribute to it directly, the pay cut covered it. Pay was so low that they were always short of staff because no-one wanted the jobs then when they could earn more in the private sector. Plenty of those that begrudge us our hard earned pensions now could have been civil servants too. They made a choice to have better wages and perks instead.

Having said that, it is disgraceful that the private pensions people paid into were lost.

Maggie, before I retired, some colleagues were claiming tax credits!

Maggie, don't you get fed up with reading how well paid public servants are?
Our wages both when I was a civil servant and when I was a local government officer were below what was paid for equivalent work in the private sector (I am talking in the 70s/80s/90s now) and we were always told that it was how we got a reasonable pension. (Civil service, I didn't have much from local gov.) the money supposedly went into the pension pot instead of for pay rises.
Great when they change the grades around and you end up doing more for less isn't it?

I work for the Coouncil - and I can't afford to join their pension scheme!
As a single householder and therefore wage earner, I earn way below the average income (the majority in council employees do!!) and can't afford to lose 10% of my measly income each year.
I also won't be getting a cost of living rise - I haven't had one for 3 years.
My wages, over the past 6 years - due to 're-shuffling of the grades, have risen by an amazing £195 - and not risen by £1000!

If it goes on much longer, I will be better off geting a slightly lower paid job and claiming workers tax credits!!!

Not been very lucky there have you? I retired 10 years ago in August so maybe I should be pleased I am that bit older.

My pension scheme maxed out after 40 years service. I was forced to leave after 37 years of service, just three years short of the maximum payout.

Ok, I can accept that there will be a bit of a reduction because I will be drawing it three years early. Many pensions work on the basis that they pay out for 20 years, so spread out over 23 years you accept that it will be reduced slightly. No big deal.

What wasn't obvious was, that in addition to the reduction for drawing 3 years early, my overall pension pot was also reduced by 20% . 20% for leaving three years early......! Come on.

I am now an unemployed pensioner, but don't appear on any unemployment statistics because we don't qualify for any benefits.

To cap it all, my free bus pass has now been postponed for 11 months too as all 60 year state benefits are moved to 65.

Emigrate, perhaps.....?

And we didn't receive bonuses! Yes I am grateful to have a 'company' pension, don't know how some poor souls manage on the 'OAP'

Like you all except George I haven't had an increase in my prvate pension and like Wisechild took early retirement at 60 so lost at least 20%.but now have to pay full rent,council tax and all utilitiy bills.

I would have been better off not paying into the private pension as I am penalised for having that little bit extra that I worked for..

No Anne its the difference between working for the Government/councils ,or a large Company who can afford to provide a index linked pension, but if you work for a small company its a different ball game

In my case i worked for a small Company of highly/skilled specialised precision Engineers, there were only 7 of us the funds were never available to give us index linked pensions, but we did all receive annual bonuses based on the profits of the firm.

Nevertheless i consider myself fortunate that i receive a private pension, there are thousands, if not millions that dont.

George

No George, it is the difference between a reasonable pension scheme and a bad one. My OH worked for a large company, his pension has increased by 2.5%this year (that is not civil service, government etc. His was/is an excellent scheme

Yes Ann-I have had one of those letters too (NHS) however because the Retirement Pension was increased it put my Income Tax up so I am getting £2.00 a month less on my Occupational Pension !!

You ought to think yourselves lucky that you have had rises in your pensions, i have never had a rise in my ex works pension, its still the same as it was when i retired 11 years ago.

But then thats the difference in having worked for the Government, or councils.

George

Had a similar letter from my Local Government pension provider. It actually went on to say that we did well last year because the cost of living on which the rise was based had fallen by the time the increase came into effect.
No mention of the fact that the reverse has happened this year,so we are well out of pocket. It´s only a very tiny pension to start with as I lost 20pc because I took "early retirement" at 60.
Marion

Ours was all to do with the pension rise being based on the retail price index. They went to great lengths in the letter to make it look as if they were doing us a favour, because the RPI was negative in September (when it is taken for guidance), we should have had a reduced pension but because they can't do that we are lucky as it is being kept at the same rate!!!!

You are not alone.....!

I have a bank pension. I didn't get a rise last year either. Waiting with baited breath this year. Only had one pay rise too in the five years before I was forced to retire early, which was £500 a year or about £1 a day after tax.