to call people out on their public sector pensions when they complain about changes and insist they are self funding as is

[sPJPPp]

Got into a bit of a discussion with someone I don't know that well, anyway she was complaining about her pension changes and kept insisting it was self funding (civil service). I just started a nodathon, but I wanted to tell her it sounds a lot better than my private pension and hers even with paying a bit more money for a few more years is probably still massively unfunded.

Aibu to actually tell her what I think next time?

Yes.

yes

The Civil service penson is paid from general taxation, not through investments, so YWNBU to point out she has her facts wrong. Are you sure its the Civil service pension - the local govt pension scheme is part funded by investments.

Is it really necessary to do so?

Oh my brother in law loves to have a dig at me about my pension, all £13K of it (assuming I work full time to 67). But it does bring to mind just what private industry gets away with in terms of shit pensions and it's a good thing for me to keep that in mind. I think it's possible to say that, well, it's not completely self-funded, but it's good that she will have a decent income set up for retirement when so many private industries get away with stripping pension rights away. Something like that. Or ask if she can get you a job

Jobs in the public sector are advertised, you could apply. Presumably you chose not to.

YANBU. I'm in a public sector pension scheme and bloody grateful for it. I pay a lot in but so do my employers and, assuming it doesn't get scrapped and I live that long, will keep me from poverty in old age, even if I never get on the housing ladder.

It used to be non-contributory now it is contributory. But it's still defined benefit not defined contribution.

I have a private pension and a public sector pension due to a career change.

I have been in my public sector job a year longer than I was in my private sector one. My private sector pension still beats my public sector one hands down. I pay more in % terms into my public sector (which has been increased 3 times since I started) one than I did my private sector one.

So not all pensions are the same and I would say YABU to comment without full info - my scheme Public Sector pension is self funding and will be for the foreseable future.

In addition to the above points, the issue with public sector pensions for a lot of workers is that the T&Cs have been changed so that many are hundreds of pounds a month worse off for no better pension. And from next month civil servants under 50-ish (forget the exact age) will be moved onto a new pension scheme that is distinctly less attractive than before (eg career average rather than final salary) but will cost even more

It really shouldn't be a race to the bottom in terms of pension provision

It's a waste of time OP. Believe me, I feel your pain. DH and I earn similar amounts, he contributes a little more to his pension. As things currently stand, his is projected to be 10 times mine! Understandably, his employer doesn't find that to be sustainable and so the scheme is changing, but still. I think defined benefit / career average schemes tend to be undervalued by those who have them.

I have several times made the mistake of telling the nurse at my GP surgery that I work in pensions. She then complains about the NHS not letting her accrue pensionable service for a decade or so in the middle of her career. When she wasn't working.

My pension contributions are much higher (but I haven't had a pay rise for yonks), I've got to work longer but will get much less than I had planned for. YABU.

YANBU. Tell them. They won't believe you (I've been there) but tell them.

I have a public secotor pension
I am perfect,y happy to swap that for the perks of every single one of my private sector friends' arrangements.
But can find nobody who has the qualifications, willingness to work in my conditions or to turn back time and pay into a scheme since they were 18 only to have it pissed on
Funny that

YABU to talk about 'Public Sector Pensions' as though they are all one and the same thing.

There are a myriad of schemes, the terms and conditions of which vary massively.

I have a public sector pension, my DH has a private sector pension. He tells me I am massively underpaid for my job, responsibilities and qualifications and that the private sector would not stand for it. I understand that my particular area is underpaid but there is little, if anything, we can do about it.

The RealAmandaClarke hear hear. I have a well paid job in the NHS!mhave worked since I was 18 self funded 2 degrees and work huge amounts of extra hours and have seen my pension rights reduced over last few years. I will never get a bonus, perk and don't claim expenses because it's too risky. Many of my friends with private sector jobs have better pensns and bonuses and so are better off than me now and in pension terms

YABvvvvvvvU

I signed up to a non contrib final salary pension at age 18 (you had no choice then). from April I find myself contributing even more to my "non contrib" scheme and on an average salary pension within no lump sum - bloody marvellous - just move the goalposts why don't you?!?!?!!!!

Did you read the perks at work thread? For most public sector workers, the pension is the one and only perk. When you're bringing little sachets of coffee and your own spoon to work in the morning, a pension that is maybe forty years off doesn't seem that much of a cushy deal.

Yanbu. I have recently moved into the public sector pension from being in a fairly reasonable private sector one.

Yes the public sector one is changing but far more favourably than when my private sector one did and I feel as though I've won a golden ticket.

YABU. Really, don't believe everything you read about public sector pensions. Especially if it concerns them being "gold plated"; which, I will remind you, means something that looks nice and shiny on the outside but when you scratch the surface, quickly reveals itself to be made of something far less valuable.

People signed up to pension schemes in good faith and invested money based on promises that have now not been kept. We are being made to pay for financial screw ups elsewhere that are not our fault. I have every sympathy for anyone whose pensions have changed, just as I do for anyone who has had to take a pay cut (basically most public sector workers, as they have had a lower than inflation pay rise for years now, if any rise at all). If you did a job and were paid significantly lower than your initial contract stated, you'd be right to feel aggrieved about it - this is no different. People in public sector pensions are hardworking people, often doing vital jobs who have been shortchanged. It is unfair to make them feel guilty for wanting what was promised to them in the first place.

I wouldn't start getting into a slanging match over the subject OP keep up the nodding dog impression.

It isn't that cushy in the private sector folks. I am delighted with my 1% pay rise this year! I had to do an Oscar winning performance when I was told. Completely underwhelmed I was. Just saying.

The teachers' pension fund isn't just self-funding it actually ends up contributing to the treasury! No need for the pension reforms we've had at all.