P.K. Posted July 19 Share Posted July 19 18 minutes ago, Ringy Rose said: Impossible. Everything Tufton Street says is inherently political. Ah yes, the 55 Tufton Street so-called "thinktank" who gave financial "advice" to Liz Truss: https://youtu.be/IRDLIOME47c?si=MQ_eRl-htONl1NVc 1 Quote Link to comment Share on other sites More sharing options...
Jarndyce Posted July 19 Share Posted July 19 36 minutes ago, Ringy Rose said: It’s also worth noting that it’s only a subset of the public service who pays that. My partner pays into the NHS pension and their contributions are over 12%. This. Never referenced in the shouty arguments… 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted July 19 Share Posted July 19 1 hour ago, Ringy Rose said: No, it was based on a selective interpretation of the UK numbers. It isn’t 6.25% here, it is 7.5%. And that’s on the career average pension; contributions for the final salary scheme are higher. It’s also worth noting that it’s only a subset of the public service who pays that. My partner pays into the NHS pension and their contributions are over 12%. Impossible. Everything Tufton Street says is inherently political. The 6.25% is taken from the IOM Local Authority Actuary Report from the link that JW posted. It's nothing to do with the Telegraph article. I posted the DT article to highlight that UK has issues with meeting current pension payments being made today let alone the future and the numbers are staggering. I accept that there are different rates of contributions to the different pension schemes but the issue is that until there's an equitable and reasonable split on who pays what, then the burden for meeting payments will always be met by the rate & taxpayers. And I don't think that's a fair arrangement. Particularly since we've been told for years that we have to pay top dollar to get the right people. That's fine but the rate & taxpayers shouldn't be the last resort when it comes to 'balancing' the books for pensions schemes. That is all. Quote Link to comment Share on other sites More sharing options...
Jarndyce Posted July 19 Share Posted July 19 10 minutes ago, Andy Onchan said: I accept that there are different rates of contributions to the different pension schemes Big of you… Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted July 19 Share Posted July 19 (edited) 5 minutes ago, Jarndyce said: Big of you… Thanks but there's bigger picture. ETA. And of course you'd expect higher contributions from the UKs largest employer. Edited July 19 by Andy Onchan Quote Link to comment Share on other sites More sharing options...
Meoir Shee Posted July 19 Share Posted July 19 On 7/18/2024 at 3:03 PM, Banker said: There’s a big cost to employment in the public sector which the unions also need to accept as every pay rise they get it costs a lot more because there’s not just the say 5% pay rise but NI and pension contributions on it plus extra sick pay costs on the new salaries. Minus the additional income tax and NI paid by the employee at the marginal rate, minus the additional indirect tax, such as VAT and excise duties, also paid by the employee, minus the additional pension contributions (again at the marginal rate) paid by the employee, minus the multiplier effect of the additional spending within the wider economy upon government tax revenues. Easy to focus upon gross, don’t forget the net. 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted August 1 Author Share Posted August 1 Revised offer of 3.25% , unions would prefer lower paid to get more which seems fair but of course the many higher paid civil servants won’t! https://www.manxradio.com/news/isle-of-man-news/unite-calls-for-meaningful-discussions-following-revised-public-sector-pay-offer/ Quote Link to comment Share on other sites More sharing options...
Happier diner Posted August 1 Share Posted August 1 2 hours ago, Banker said: Revised offer of 3.25% , unions would prefer lower paid to get more which seems fair but of course the many higher paid civil servants won’t! https://www.manxradio.com/news/isle-of-man-news/unite-calls-for-meaningful-discussions-following-revised-public-sector-pay-offer/ This kind of pay claim has been going on for years but rarely is implemented. A consolidated cash lump sum + % was implemented a few years back I think It erodes differentiators though and dis inclines people to want to progress. The PSC negotiators or not the brightest tools in the box😁 Quote Link to comment Share on other sites More sharing options...
John Wright Posted August 1 Share Posted August 1 The IoM police recently were given a pay increase, so new entrants went in at a point part way up the original scale at £32,163. Now that UK police have an agreed 4.75% award, from September the IoM force gets that as well. NEW POLICE OFFICER PAY INCREASE UPDATE We recently announced that new Isle of Man Constables starting salary has risen to £32,163 in recognition that the salary needs to reflect the role and the work that our officers do in looking after their communities. Two days ago, the UK Govt announced a 4.75% salary increase for all officers from September (the IOMC has parity for pay and conditions) meaning that the starting pay for a new officer will now be £33,690, rising to £48,231 after three years service. Other benefits includes a shift working allowance, overtime, attractive Pension, Activ 8 and access to the Blue Light Card Membership. in other words, a Manx officer, after three years service, with shift allowances and overtime will be between £50,000-£55,000 Quote Link to comment Share on other sites More sharing options...
Amadeus Posted August 1 Share Posted August 1 Sounds like a pretty desirable career to me. Less stress than UK, good money, 30 years and you can ride off into the sunset. Sweet deal. Quote Link to comment Share on other sites More sharing options...
Mysteron Posted August 1 Share Posted August 1 34 minutes ago, Amadeus said: Sounds like a pretty desirable career to me. Less stress than UK, good money, 30 years and you can ride off into the sunset. Sweet deal. You would think so, but reportedly the police are experiencing difficulties retaining officers, both here and in the UK. Perhaps not such a desirable career after all. I'm not sure what stress factors you're referring to, but I'd imagine being assaulted in the UK feels exactly the same as being assaulted over here. I might be wrong, but I think I read that officers now retire at 60, which if they joined at 18, is somewhat more than 30 years. A lot of people might consider that a 'sweet deal', but evidently, many don't. 2 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted August 1 Share Posted August 1 1 hour ago, Amadeus said: Sounds like a pretty desirable career to me. Less stress than UK, good money, 30 years and you can ride off into the sunset. Sweet deal. Don't forget coming back in for a double-dip after retirement to cover for problems in recruitment. And there's always the goal of a Holy Grail placement on the Motorsports committee. Quote Link to comment Share on other sites More sharing options...
Meoir Shee Posted August 1 Share Posted August 1 1 hour ago, Amadeus said: Sounds like a pretty desirable career to me. Less stress than UK, good money, 30 years and you can ride off into the sunset. Sweet deal. 40 minutes ago, Non-Believer said: Don't forget coming back in for a double-dip after retirement to cover for problems in recruitment. And there's always the goal of a Holy Grail placement on the Motorsports committee. Or perhaps not…. Just three successful candidates from 40 to join the police Quote Link to comment Share on other sites More sharing options...
finlo Posted August 1 Share Posted August 1 1 minute ago, Meoir Shee said: Or perhaps not…. Just three successful candidates from 40 to join the police That was before the bribery. 1 Quote Link to comment Share on other sites More sharing options...
thommo2010 Posted August 1 Share Posted August 1 2 hours ago, Amadeus said: Sounds like a pretty desirable career to me. Less stress than UK, good money, 30 years and you can ride off into the sunset. Sweet deal. Less stress? Nope 30 years before riding off into the sunset? Nope its now close to 40 years with nearly 15% of your salary going towards the pension Good money for dealing with someone off their heads on drink or drugs? Nope 2 Quote Link to comment Share on other sites More sharing options...
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