The Retirement Thread

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pjd57

Guru
Location
Glasgow
My youngest is in the same job, well done to you and you deserve all you got.

The bad feeling from people like myself is not against you but the system that devalued our pensions pots, whilst for many years protecting those of the public sector.
Ours wasn't protected.
When I started in 1981 we paid around 6% . By 82, it was hiked up by several % and it kept going up.
I got out at a good time. Guys I knew have had theirs hiked up to around 14% now and many are going to have to work longer.

I don't like the idea of 60 year old firefighters
 

Drago

Legendary Member
My avatar shows you what a 60 year old WPC will look like when you're robbed in the street.

I paid between 11 and 15% into mine for most of my career, cos Mamma made me.
 

screenman

Squire
Now they're devaluing public sector salaries instead, and as a result there's an acute recruitment and retention crisis in all the services.

Is there though, when Spalding fire service went full time they had 750 applicants in a very short time.
 

Drago

Legendary Member
If its anything like the police now, it'll be the dregs, the Walt's, and the criminals. Anyone with half a braincell will have cleared off to the private sector, leaving the leftovers to it. Some of the young police recruits are frightening.

I lost several of my DC's to a bank that had offices on the same street as ours. Nearly double the money, for better conditions and regular hours. Those willing to forgoe those kind of pay and conditions to be a copper are increasingly below par, to put it very politely. Indeed, in some places (like the Met) they can't get anyone to apply to be D's. If I were thirty years younger I'd stay in the Army and do my 23 rather than join the public services.
 
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screenman

Squire
Ours wasn't protected.
When I started in 1981 we paid around 6% . By 82, it was hiked up by several % and it kept going up.
I got out at a good time. Guys I knew have had theirs hiked up to around 14% now and many are going to have to work longer.

I don't like the idea of 60 year old firefighters


My point being that although you paid in a good amount in could you have brought an annuity with your lot that paid as well. I also do not like the idea of a firefighter being that age, although I know of a few that would have been fit enough if they had stayed in.
 

screenman

Squire
My avatar shows you what a 60 year old WPC will look like when you're robbed in the street.

I paid between 11 and 15% into mine for most of my career, cos Mamma made me.

Did that amount to say £800,000 Because at 55 that would be lucky to get you £23,000 a year.
 

Drago

Legendary Member
No idea, and don't care. Its my compensation for earning a fifth of what I could have done as a contractor. Its the Queen's way of thanking me for putting duty before personal enrichment. Twice.
 

screenman

Squire
If its anything like the police now, it'll be the dregs, the Walt's, and the criminals. Anyone with half a braincell will have cleared off to the private sector, leaving the leftovers to it. Some of the young police recruits are frightening.

I lost several of my DC's to a bank that had offices on the same street as ours. Nearly double the money, for better conditions and regular hours. Those willing to forgoe those kind of pay and conditions to be a copper are increasingly below par, to put it very politely. Indeed, in some places (like the Met) they can't get anyone to apply to be D's. If I were thirty years younger I'd stay in the Army and do my 23 rather than join the public services.

The fire service around here is about £37,000 a year plus benefits, not many other jobs hitting those levels.
 

screenman

Squire
No idea, and don't care. Its my compensation for earning a fifth of what I could have done as a contractor. Its the Queen's way of thanking me for putting duty before personal enrichment. Twice.

I am not disagreeing with your sense of duty, just the unfairness of how the different pots performed. As I have said many times before, you deserve all you got in the way of pensions. Just wish mine had also performed the same way.
 

Drago

Legendary Member
I could have done over £200k a year doing security on the ships in the Indian Ocean. Mate of mine did nearly 3 years of that and then retirement d completely. I earned $40,000 for just under six months work as a security contractor in the states when I took a career break following my split with then first Mrs D.

I'm toying with the idea of applying for a £110,000 job I've seen working for Eutelsat, which asks for almost exactly my educational requirements.

For people bright, intelligent, and educated enough to join the public services in 2017 (and you need a degree to join the police now, soon to be Masters for Inspector or above) the earning opportunities go well beyond what the Queen will pay. I could have earned many multiples elsewhere, and I'm not alone, so why would anyone do it, and choose to stay in the lower, operational ranks without being ultimately compensated for it? I wanted to do something more wothwhile than moving paper from A to B, but still didn't want to ultimately sell myself short.

The problem is in 2017 the really bright people aren't doing it any more. The pay wasn't especially appealing to begin with, and now its laughable for what they expect. As a result the cream is going elsewhere leaving the third rate applicants to get the jobs. The average copper now has just under 6 years of service - that's the appallingly low level of calibre and experience the government is buying for the public.
 
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screenman

Squire
You Drago are well different to the working or retired public sector workers I know of, the money on the boats now is not very good, the close friends I have that did it for a while are now working on land in the UK.

I too could have travelled with many hail chasers on the money you speak of without risking life, however no money is worth being away from my wife or the kids when they were at home.
 

screenman

Squire
Most people working in the public sector make far less than those working in the private sector/self employed realise.

Not around these parts, or so I am told, which could go on to explain why there are so many applicants for every job going in the public sector. Two of my boys are public sector, they seem to do well compared with thier mates who are not. I am sure the grass is always greener which ever side of the fence you are on.
 
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