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Govt Pensions Revealed


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8 minutes ago, finlo said:

I thought I read somewhere it was 45 years now but their website says 30, screen shot it while you can!

Saying 35 years now 

www.iomtoday.co.im/article.cfm?id=39380&headline=New%20pension%20deal:%20When%20will%20you%20retire?&sectionIs=news&searchyear=2018

 

Edited by dilligaf
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11 hours ago, dilligaf said:

Saying 35 years now 

www.iomtoday.co.im/article.cfm?id=39380&headline=New%20pension%20deal:%20When%20will%20you%20retire?&sectionIs=news&searchyear=2018

 

Would you post that again with the proper link. I’d like to read it.  Thanks. 

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On 6/19/2018 at 9:39 PM, wrighty said:

Nonsense. I took out an endowment plan 24 years ago to buy a house with. They’ve been writing to me every year, and for the last 15 in big print ‘Warning, you’re not going to be able to pay off your mortgage etc.’ If their annual projections had been ‘you’re fine’ up until the last year you’d have a point. In addition I’ve been asked many times if I’d been missold the policy and did I want to claim against somebody. 

An endowment policy is a defined contribution scheme with predictions based on estimated growth rates. Public Sector pensions are defined benefit schemes. You may not agree with those, but it doesn’t make it right to take them off people just because you think they’re getting too much. 

you missed that boat......

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19 hours ago, finlo said:

I thought I read somewhere it was 45 years now but their website says 30, screen shot it while you can!

 

19 hours ago, dilligaf said:

Saying 35 years now 

www.iomtoday.co.im/article.cfm?id=39380&headline=New%20pension%20deal:%20When%20will%20you%20retire?&sectionIs=news&searchyear=2018

 

There is an option to "buy back" additional years too which might assist.

If you have an entitlement both here and in the UK, you can buy back additional years in both jurisdictions and finish up with a larger pension than under the old reciprocal arrangement. I had naturally assumed that you could not draw more than 100% of your maximum entitlement under the old regime, but I had it confirmed that this is wrong. The two pensions are totally divorced from each other, so you can maximise each one, subject to a few rules about the timing of the contributions. Definitely worth getting this right if you have worked for extended periods both here and across.

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On 6/25/2018 at 2:47 PM, Andy Onchan said:

Whilst not in any way condoning the levels of government executive remuneration there which seem even more crazy than our own, it is striking that there seems to be no qualms about publishing names and salaries. I seem to recall that a Keys or Tynwald question not too long ago about the size of the highest pension pots here was met with the dead bat response that to reveal these details could lead to speculation and the identification of individuals. Why the difference?

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34 minutes ago, woolley said:

Whilst not in any way condoning the levels of government executive remuneration there which seem even more crazy than our own, it is striking that there seems to be no qualms about publishing names and salaries. I seem to recall that a Keys or Tynwald question not too long ago about the size of the highest pension pots here was met with the dead bat response that to reveal these details could lead to speculation and the identification of individuals. Why the difference?

Because it would result in a lynch mob if Joe public knew the true extent of the largesse?

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1 hour ago, finlo said:

Because it would result in a lynch mob if Joe public knew the true extent of the largesse?

Peoples pensions whether CS or private are noones business.

Nobody is getting anything that they are not entitled to as they are only getting what is due to them as per their contracts 

I have said many times that all these Government jobs were open to all and if you did not want any of them or did not qualify for any of them, tough shit

Nothing has changed in the C S for years so I can’t understand why the whingers are whinging now

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3 minutes ago, dilligaf said:

Peoples pensions whether CS or private are noones business.

Nobody is getting anything that they are not entitled to as they are only getting what is due to them as per their contracts 

I have said many times that all these Government jobs were open to all and if you did not want any of them or did not qualify for any of them, tough shit

Nothing has changed in the C S for years so I can’t understand why the whingers are whinging now

I think it's more down to the way the pensions have been managed rather than any animosity towards those who are in receipt of a government pension.

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24 minutes ago, dilligaf said:

Peoples pensions whether CS or private are noones business.

Nobody is getting anything that they are not entitled to as they are only getting what is due to them as per their contracts 

I have said many times that all these Government jobs were open to all and if you did not want any of them or did not qualify for any of them, tough shit

Nothing has changed in the C S for years so I can’t understand why the whingers are whinging now

Maybe because until recently average Jo was unaware of the scale of the problem!

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5 minutes ago, finlo said:

Maybe because until recently average Jo was unaware of the scale of the problem!

If average Joe is that stupid they have nobody but themselves to blame

I am not a Gov employee and have worked all my life for basic pay

I chose my employment and enjoyed most of it, so have no axe to grind

I could have and probably should have worked for Gov but chose not to and have go live with that

No big deal

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20 minutes ago, dilligaf said:

If average Joe is that stupid they have nobody but themselves to blame

I am not a Gov employee and have worked all my life for basic pay

I chose my employment and enjoyed most of it, so have no axe to grind

I could have and probably should have worked for Gov but chose not to and have go live with that

No big deal

That's all well and good Dilli, but we are the ones getting increasingly shafted to pay for it all!

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