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> There are police forces in the UK where 50% > of their annual budgets is going to people > who no longer work there Source? In 2009 20% of policing c

> There are police forces in the UK where 50% > of their annual budgets is going to people > who no longer work there Source? In 2009 20% of policing costs in the UK went to pensions[0], which doesn't seem that particularly insane; has it really risen so much, or are there certain police forces that aren't representative due to shifting demographics? > Pensions should be funded from savings > / investments made during working life Perhaps, but I don't see the relationship between this and your previous point. > these pensions are gold plate: linked > to inflation and guaranteed for life So ... an inflation-linked annuity? How does that differ from most private pensions? Is there anything stopping you purchasing one? > teachers and council workers retiring > every yesr with a guaranteed income > stream that would cost millions if you > were to buy the equivalent annuity This also needs sourcing, as it also fails the sniff test and some simple Googling. Taking the example here[1], a relatively senior teacher, looks like she'll get an annual pension of ~£20,000 if she retires at 60, which is probably equivalent to a private annuity of £500,000. I for one welcome our post-truth overlords... [0] https://www.moneymarketing.co.uk/lib-dems-reveal-police-pension-costs-up-50-in-five-years/ https://www.moneymarketing.co.uk/lib-dems-reveal-police-pens... [1] https://www.moneymarketing.co.uk/issues/29-october-2015/case-study-advising-on-changes-to-the-teachers-pension-scheme/ https://www.moneymarketing.co.uk/issues/29-october-2015/case...

nextweek2 10y ago
> a relatively senior teacher, looks like she'll get an annual pension of ~£20,000 if she retires at 60, which is probably equivalent to a private annuity of £500,000. There is the problem. I've had a 8% pension in the programming sector since I was 20, my projections are for £300,000 by age 67 and £10,000 retirement income. Teachers get 12 weeks off a year and to retire 7 years earlier on double the pension. Personally, I'm retraining to be a teacher. Pension calculators from the likes of legal and general show that you need vast pension contributions to match public sector employees. To match a teacher it recommended I made a 15% contribution, is any private sector company offering that? http://www.legalandgeneral.com/calculators/contributionCalc-6.jsp http://www.legalandgeneral.com/calculators/contributionCalc-...
- peteretep 10y ago
  I was writing a long reply, but it boils down to: if you think you'll earn more as a teacher than as a reasonably skilled developer, even including pension and holiday, let's hope you're not teaching arithmetic.
retube 10y ago
You should take a look at annuity tables. 20k rpi-linked at age 60 will cost you nearly a million. There are very, very few people retiring from the private sector with pension pots worth this. And those that are probably fall into the "fat cat 1% elite" so derided by the left.

nextweek2 10y ago

> a relatively senior teacher, looks like she'll get an annual pension of ~£20,000 if she retires at 60, which is probably equivalent to a private annuity of £500,000. There is the problem. I've had a 8% pension in the programming sector since I was 20, my projections are for £300,000 by age 67 and £10,000 retirement income. Teachers get 12 weeks off a year and to retire 7 years earlier on double the pension. Personally, I'm retraining to be a teacher. Pension calculators from the likes of legal and general show that you need vast pension contributions to match public sector employees. To match a teacher it recommended I made a 15% contribution, is any private sector company offering that? http://www.legalandgeneral.com/calculators/contributionCalc-6.jsp http://www.legalandgeneral.com/calculators/contributionCalc-...

peteretep 10y ago
I was writing a long reply, but it boils down to: if you think you'll earn more as a teacher than as a reasonably skilled developer, even including pension and holiday, let's hope you're not teaching arithmetic.

retube 10y ago

You should take a look at annuity tables. 20k rpi-linked at age 60 will cost you nearly a million. There are very, very few people retiring from the private sector with pension pots worth this. And those that are probably fall into the "fat cat 1% elite" so derided by the left.