Banker Posted June 5, 2022 Share Posted June 5, 2022 26 minutes ago, Ham_N_Eggs said: Who said encourage? If public servants wanted to switch across then they could offer it and have them sign a waiver. There is always a way. Obviously no idea on pensions, independent financial advice would be required & no IFA would recommend such a stupid request even if the employee asked! Quote Link to comment Share on other sites More sharing options...
wrighty Posted June 5, 2022 Share Posted June 5, 2022 6 hours ago, Derek Flint said: 31000 people Thar must be around 40% of the population? Is that pensioners, or TT visitors? If the former I think you’re way off the mark. Quote Link to comment Share on other sites More sharing options...
finlo Posted June 5, 2022 Share Posted June 5, 2022 1 minute ago, wrighty said: Is that pensioners, or TT visitors? If the former I think you’re way off the mark. I did wonder where that figure came from. Quote Link to comment Share on other sites More sharing options...
WTF Posted June 6, 2022 Share Posted June 6, 2022 13 hours ago, Ham_N_Eggs said: Who said encourage? If public servants wanted to switch across then they could offer it and have them sign a waiver. There is always a way. the CS are only altruistic with other peoples money, not their own. 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted June 6, 2022 Share Posted June 6, 2022 (edited) 1 hour ago, WTF said: the CS are only altruistic with other peoples money, not their own. Would you switch from a final salary pension to DC scheme ? Whilst we all slag off CS at times most of them are hard working & not on massive salaries Edited June 6, 2022 by Banker 3 Quote Link to comment Share on other sites More sharing options...
Derek Flint Posted June 6, 2022 Share Posted June 6, 2022 10 hours ago, wrighty said: Is that pensioners, or TT visitors? If the former I think you’re way off the mark. That is what I thought - but read the news article. Bonkers! On 6/4/2022 at 7:27 PM, Non-Believer said: Bit of a thread bump with news on the PS Pensions front from this weekend's Independent. Read and inwardly digest... Quote Link to comment Share on other sites More sharing options...
wrighty Posted June 6, 2022 Share Posted June 6, 2022 31 minutes ago, Derek Flint said: That is what I thought - but read the news article. Bonkers! You need to read it again Derek. "As of March thirty-first, 7826 people were receiving government pensions" 1 1 Quote Link to comment Share on other sites More sharing options...
doc.fixit Posted June 6, 2022 Share Posted June 6, 2022 Oh, common sense and morality. Don't forget we are talking big gov. here. 1 Quote Link to comment Share on other sites More sharing options...
finlo Posted June 6, 2022 Share Posted June 6, 2022 2 hours ago, Roxanne said: It’s only a small point but the receipt of these pensions is an entitlement, not a benefit. Often some forget that older people have paid into the system for fifty odd years in many cases to receive that entitlement. Is this not referring to CS/PS pensions as opposed to the state pension? Quote Link to comment Share on other sites More sharing options...
finlo Posted June 6, 2022 Share Posted June 6, 2022 2 minutes ago, Roxanne said: No. In 2016 by comparison, the sum of public sector pensions was £91.1 million. Quote Link to comment Share on other sites More sharing options...
finlo Posted June 6, 2022 Share Posted June 6, 2022 (edited) 4 minutes ago, Roxanne said: I'm not sure where you're going with this. The only.point made was that the state pension is an entitlement not a benefit. Why are you now quoting numbers at me? I've lifted it from the article, which is why I don't think it's on about state pensions. ETA in fact the first sentence states it's what's been paid out on public sector pensions. Edited June 6, 2022 by finlo Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted June 6, 2022 Share Posted June 6, 2022 58 minutes ago, Roxanne said: 1 hour ago, finlo said: Is this not referring to CS/PS pensions as opposed to the state pension? No. Well yes actually. The newspaper article refers to an FoI request, which I assume is Case ID: 2401789; Title: Annual total of public sector pension payments. But all the response to that really says is that the data requested is already available. Which indeed it is from the Quarterly PSPA [Public Sector Pensions Authority] Operational Reports available from here: https://www.gov.im/about-the-government/statutory-boards/public-sector-pensions-authority/about-the-pspa/who-is-the-public-sector-pensions-authority/pspa-operational-reports/ Looking at the most recent of these it shows that there are indeed 7826 people receiving public sector pensions, though of course not all of these will be on the Island: Not all of these will have paid much or indeed anything into the fund (politicians only started paying in fairly recently for example). This is a completely separate thing from recipients of the Manx State pension, though most will be receiving that as well. 1 Quote Link to comment Share on other sites More sharing options...
P.K. Posted June 6, 2022 Share Posted June 6, 2022 3 hours ago, Roxanne said: It’s only a small point but the receipt of these pensions is an entitlement, not a benefit. Often some forget that older people have paid into the system for fifty odd years in many cases to receive that entitlement. IIRC fifty years ago they weren't making contributions... Quote Link to comment Share on other sites More sharing options...
wrighty Posted June 6, 2022 Share Posted June 6, 2022 8 minutes ago, Roger Mexico said: Well yes actually. The newspaper article refers to an FoI request, which I assume is Case ID: 2401789; Title: Annual total of public sector pension payments. But all the response to that really says is that the data requested is already available. Which indeed it is from the Quarterly PSPA [Public Sector Pensions Authority] Operational Reports available from here: https://www.gov.im/about-the-government/statutory-boards/public-sector-pensions-authority/about-the-pspa/who-is-the-public-sector-pensions-authority/pspa-operational-reports/ Looking at the most recent of these it shows that there are indeed 7826 people receiving public sector pensions, though of course not all of these will be on the Island: Not all of these will have paid much or indeed anything into the fund (politicians only started paying in fairly recently for example). This is a completely separate thing from recipients of the Manx State pension, though most will be receiving that as well. 7826 memberships may not be 7826 pensioners. Some will be getting more than one - for example on divorce there can be a pension sharing order, or a teacher may quit, and take up a role in another area for example and on retirement have two pensions. Quote Link to comment Share on other sites More sharing options...
P.K. Posted June 6, 2022 Share Posted June 6, 2022 4 minutes ago, Roxanne said: NI contributions began in 1911 I believe and were updated in the late 40’s. So yes, contributions were being paid (toward the state entitled pension - for clarification - again). My bad. I should have posted: "IIRC fifty years ago the Civil Service weren't making pension contributions..." Quote Link to comment Share on other sites More sharing options...
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