Burnham

[Dorset Boy]

In the last decade, the State Pension increase has been based on average earnings increases 5 times.
CPI has been the basis 3 times and 2.5% the other 2.

 

[Milzy]

I love Badenoch and she has a reasonable chance of power compared to reforms 0 chance. Andy won’t be PM for too long.

 

[Bromptonaut]

Utter nonsense. Why are there no DB schemes open to future accrual in the private sector if they weren't more expensive for the employer than a DC arrangement?
You close the DB scheme to future accrual and move everyone to DC from that point forward.
Such a move will produce savings over time which is the whole point. Of course those savings will be smaller in the first decade or so.

Fire Brigade Pension is a 37.6% contribution by employers!
Teachers is 28.7% for employers
LGPS is 16.6% for employers

All on gross pensionable earnings, compared to 3% of qualifying (band) earnings for auto enrolment.

With the exception of LGPS they're unfunded schemes. Today's tax income pays the pensions of the current retired cohort.

Move everybody in the Civil Service to DC tomorrow, and in practice there would likely be an easement for those close to retirement - say within 5-10 years - it would be decades before a meaningful saving emerged.

And HMG would have the Mother of all Battles with their employees straight away.

No politician's going to buy that!!

 

[secretsqirrel]

I love Badenoch and she has a reasonable chance of power compared to reforms 0 chance. Andy won’t be PM for too long.

Well that makes 2 of you..

 

[Pross]

The purpose of ending the Triple Lock is to reduce the State Pension costs. This means whatever replaces it will mean less money going to those on the State Pension.

Most people will be getting full state pension or close to it irrespective of their other sources on income eg a retired warehouse worker with no savings, no investments, no private pension will be getting the same amount as a retired plc company director with >£1m savings & investments, a £90k a year private pension as well as the same State Pension. Which of those two will be most impacted by changes to reduce the amount paid out in State Pensions?

I’m not disputing any of that just making the point that most people couldn’t name the three criteria but are fundamentally opposed to scrapping any of them as it has become a kind of political battle flag.

 

[Milzy]

 

[secretsqirrel]

View attachment 17607

I bet you wish you could do that. Pee backwards.

 

[briantrumpet]

I bet you wish you could do that. Pee backwards.

 

[secretsqirrel]

I didn’t have to look it up. I just looked so weeird to me.

 

[briantrumpet]

I didn’t have to look it up. I just looked so weeird to me.

And to me, but it was quite amusing to ask Gemini that specific question, as it wouldn't be drawn on whether the graphic was AI.

 

[briantrumpet]

I didn’t have to look it up. I just looked so weeird to me.

Mind you, what make dogs do with their penises once locked into a bitch also looks weird to me.

 

[Poacher]

Mind you, what make dogs do with their penises once locked into a bitch also looks weird to me.

I'm fairly sure it's not by choice!

 

[FishFright]

And to me, but it was quite amusing to ask Gemini that specific question, as it wouldn't be drawn on whether the graphic was AI.

Then Sora messaged Gemini and called it a grass

 

[briantrumpet]

Then Sora messaged Gemini and called it a grass

But what about Ultegra?

 

[secretsqirrel]

Just noticed it only has 3 legs and is peeing backwards.

A symbol that Britain is truly broken……..