In thinking that I may never be allowed to retire.........

[whymumwhymum]

Have worked in public sector for nearly 20 years now and just saw in the news today that they are planning on keeping the pensions for my age group and under back until we are 66 ffs.

That was not what I signed up for when I decided to pay into the scheme!

Thats nearly another 30 years and tbh I don't think i'll survive in this job that long, and thats not taking into account that by the time I'm 50 or older they will probably have pushed the age back further.

I don't feel particularly ' lucky' to be a public sector worker, i worked and studied damn hard for years to get my now reasonably (not by any means highly) paid job. I will never ever get a bonus even if i do twice the 'reasonable' work, will also never get overtime payments. I'll never have a company car or private health care or any other perks.

Many's the night I've lain awake worrying about the people i get paid to look after .

The pension was the one thing that made it 'wothwhile' long term and i am losing faith that I will ever see it, in payments alone i calculat I will have paid in somehwre in the region of 100k over a working life of 45 years not accounting for inplation. Should have just saved the money or better still blown it on stuff I could actually enjoy before i'm six feet under!

Just to add that people may well be living longer but it isn't necessarily with better health. I nurse many 50, 60 and 70 year olds with appalling health needs. God knows what is happening to this country.

yes i know I said I was going but...

'expect others to pay for your retirement'

southmum, you live in a country with a government, right? Do you want to pay for everything bit by bit? education, health, security, defence, roads, bins? Do you want to do it all yourself too? Or organise the employment of those who do?

no? in that case you need people to be employed by the state. And, duh, the state through taxation will need to pay them. And their pensions, if of course we assume anyone deserves a pension these days. Maybe you're one of those that doesn't- but anyway... That's necessary expenditure. Not 'your money'- unless you are offering to run the country you live in yourself through your own salary and efforts.

Public servants aren't going to be retiring on your holiday-and-special treat money, you know.

Southmum which public sectors workers sit on their arses all day long with their feet up? Please don't tar us all with the same brush. Not one day this week have I had a lunch break as we haven't had time due to the amount of home visits I have to so (district nurse). I was with a man the other day and held his hand whilst he took his last breath, granted I was sitting on the bed, so may be I was sitting on my arse? Or with the 35year old mom of 2 dying of cancer I was with yesterday. Don't you dare imply we have it easy

Wideawakenurse - if anyone from the private sector was seeing the terms and conditions of their pension changed

Erm,that would have happened a good few yrs ago when the final salary scheme ended,& i dont remember getting any sympathy of anyone then.

I dont know what the answer is but i do now the country aint got any money & belts have to be tightened.

Maybe they could start with the baby boomers & assessing how much pension they should get based on their assets?

Betty I agree. People think because they know some people who are well and active in their 60's and older that most people are like that. I honestly think most younger people have no idea of the chronic ill health many workers in their 40's and 50's already struggle with.

I am a manager and because of my work I know quite a bit about the health/ill health of many staff. There are many people that lookhealthy, but are struggling with chronic health problems that their colleagues know nothing about.

I really can't see these people being up to working in their 60's and older. Particularly where their health problem is a progressive one.

I thinkthere is going to be massive resentment of older workers in the future who have to work as they can't retire,but really aren't up to it. They will be able to use the age discrimination and disability discrimination laws so that it will make them difficult to sack. But they won't be able to work as efficiently at 65 or older than younger workers.

Ps I also struggle to make ends meet which is why I get off my arse and work a 50 hr week

I actually agree with expat & if i get to a certain age & feel i cant carry on working i will not be a burden to my ds & i will top myself.

DoingthebestIcan - Don't be so stupid! Have you any idea what devastation suicide leaves behind?

I unfortunately lost someone very close to me through suicide. Suicide leaves people feeling guilty,angry,confused and very very devastated. Read SOBS that supports people affected by suicide if you want to learn more.

I can almost guarantee that you will leave behind a vast emotional burden through suicide even though you may have removed a practical one.

Lesley, you must have looked at the wrong figures because the expectation of life is around 80 years in the UK. I am an actuary I deal with mortality tables everyday.

The figure of 1/4 of my salary is for 40 years work adding up the 3 pensions I have. Crap isn't it?!?!

Public sector workers have no idea how privileged they are.

Please dont call me stupid,i am sorry if my view offends you but if i get to an old age & cannot work any longer to support myself then i will do it.

I do not want to do it,i would love to live to a ripe old age in fine health,see my family settled & pass away in my sleep.

I do not want to be a burden to my ds,God only knows how hard it is going to be for him to get a job & own his own home.

And i do believe there will be plenty of people thinking the same as myself,sad but true.

When I worked for the private sector, my employees paid into my superannuation fund. Doesnt everyone have a minimum compulsory contribution?
In the public sector, I have had shit all (nothing) as I have never been on a permanent contract. Mmm so privileged.

I'm sorry but I just don't feel privileged. I recently had my pension forecast my lump sum was ok and my yearly salary will be around 13k a year. Is that considered good? I will have worked for the nhs for 59 yrs if I retire at 66. 13k a year? Is that what you all feel is such a great pension??

The figures I posted were not about life expectancy - they were healthy life expectancy i.e. at what age does chronic ill health set in. It was actually from an acturial Government presentation pointing out that people in the past largely died of sudden ill health e.g. infections, heart attacks. But now people die largely of chronic ill health.

And people who are chronically ill are less likely to be able to work and certainly less likely to be as efficient as younger healthier workers.

Yes a quarter of salary for 40 years is crap. i used to work in public sector and at the moment if I had worked for 40 years I would get half my salary for pension. I have no idea what I will actually be entitled to when the time comes.

MrsKravitz - Yes thats good.

Depends what your salary is. What percentage of your salary is it?

In the public sector, I had no bonus, no overtime, no lunch break, ridiculous workload, rubbish equipment (have to and had to supply everything myself) and an oppressive sick leave policy. Sounds familiar? Yes, we are not that much different over this side.

Although that would tell us all you current salary!

And when I say a quarter of my salary, that's a quarter of my current not final salary, so far worse than a DB scheme which is usually half or 2/3 of final or career average salary.

With mine, its s small lump sum (1/4 my current pa salary) and no further payment...just the state pension I suppose.

What is DB?

Actually, my superannuation is shares linked so I could end up with nowt

I think that should be 49 yrs unless I started working for the nhs at 7, by the time I reach 66 though it will probably feel that way :o

DB defined benefit e.g. Final salary or career average scheme

DC defined contribution or money purchase pension scheme e.g. Gambling your income in retirement on the stockmarket.

Thanks. Local Govt pension is half final salary if you have worked there for 40 years.

kravitz - employees pay into public pension schemres. How much you pay depends on which pension scheme it is. There is no one public sector pension scheme. So teachers pay into a different scheme than TA's for example.