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Police Pension Destroyed


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#81 Matt C

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Posted 11 March 2013 - 08:28 PM

Meditate: The new-pension may still appear 'favourable', but if they have jumped in and 'changed the goalposts' once, then what is to say that they won't do it again? And again? That was the deciding factor for me. If they can screw us once, they can screw us again, and if my nest-egg is tried up within their scheme then there is ABSOLUTELY NOTHING I CAN DO ABOUT IT! By all means, keep paying in, but I would be extremely cautious about considering this the 'one and only' pension-raid. They've got away with it once, they can do it again...

#82 Ice

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Posted 12 March 2013 - 12:15 AM

Seems like people have given up. They could do it again that's why we need to continue to complain, try to challenge in any way possible to stop it happening this time. If they want to change it then fine but do it for people that can decide and factor it in there future when joining the job. Don't let them do if to half of us that already set our futures and family lives on what we we offered years back, we're relying on it and don't have the years to take other routes! We have been working for years believing what they sold us and working hard for what we thought and they told us at the time we would be entitled to.
That is what's not fare or equal and what they shouldn't get away with!!!!

#83 meditate

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Posted 12 March 2013 - 09:00 AM

My answer to the statement they could do it again would be  - thats true.Having said this It is worth bearing in mind that any contributions under the old scheme are protected and those terms and conditions for the contributions still apply. Any alterations will always be prospective to my knowledge. Obviously the less years you have under the existing scheme the more likely you will have to do the extra years.



#84 Matt C

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Posted 15 March 2013 - 07:53 AM

Ice: Im in pretty much the same boat as yourself. I have 13 years 'pensionable service'. Bear in mind that you don't 'lose' what is already invested, it is merely 'frozen'. If you are genuinely worried (as I am) that over the next 20+ years the police pension will be further eroded, then consider diversifying for the future. Worth speaking to an IFA, but bear in mind that they can only advise as things stand 'right now, in the moment'. They don't have crystal-balls and can't see into the future. With things like Endowment Mortgages, they have managed to get it spectacularly wrong in the past... The government have made it perfectly clear that they intend to 'claw back' on pensions. The Police Federation have made it perfectly clear that they are not all that bothered, as the majority of Union Reps are not affected by the changes. The economy has made it perfectly clear that the days of a 'career for life' are pretty much over. The more 'flexible' you can be, the greater the chance of economic survival. Just my own personal thoughts. You pays your money, yer takes yer chances!!

#85 Matt C

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Posted 15 March 2013 - 08:06 AM

A quick 'caveat' to my last post: What is right for some, might not be right for others! I think the main point I'm trying to make is that THERE ARE OPTIONS, and that a public-sector pension is not the 'be all and end all'. It's good (if you trust the government) but its not EVERYTHING. Look around. Consider ALL options. Be creative!

#86 Tom Sawyer

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Posted 22 March 2013 - 07:35 PM

Lets be clear on the shafting you are getting if you have 16 years or more to serve.You are expected to work until you are 60 and the work is expected to be front line core patrol shifts.G4S are expected to do the backroom roles and alot of the investigation.So its front line 24/7 and NPT.You will have to pass a fitness test until you are 60 years old every year or lose pay 5k a year and face being dismissed under unacceptable working rules.If you fail the fitness due to an injury/assault on duty then tough so what.So you are payng in the whopping 14% in for up to 41.5 years in the worst case scenario.A good percentage don't claim full pension now especially females The new proposals mean far less will get their pensions.Then the life expectancy for retired cops is bad enough now.Imagine what it would be wrestling with an ever more violent and desperate criminal fraternity up to being 60 years of age.

 

I have 4 to go and the apathy amongst my younger colleagues it will affect is astounding.The Federation ( all less than 10 to do) are a disgrace with apathy to the extent that the constables section has today withdrawn funding to the main fed JCC coffers.

 

I could go on at length and might yet,tomorrow.This site is mainly younger in service people.This thread aside its all which boots to buy etc etc.Wake up and realise the shafting we are getting.Pester the reps,e-mail your Mps,contact Fed HQ directly.

I suggest a vote of no confidence in the FED.



#87 Bart

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Posted 22 March 2013 - 07:46 PM

It's not a bed of roses in the HATO service either!!! more pension contributions, working for longer and less pension for when you finally retire, that's if an artic doesn't flatten you as you totter out to lane 2 to retrieve debris with your zimmer frame!!!! It'll be the first time in history that occupants of HATO/police cars will have disabled blue badges!!! :blink:



#88 Matt C

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Posted 23 March 2013 - 08:19 AM

Tom Sawyer: Over the years I've come to the conclusion that my Police Federation membership more or less equates to purchasing a very, very expensive diary every year!! As far as 'fighting' for the rank-and-file, it consists of the usual: "We are disappointed with the decision.....we feel your pain......we work hard for you behind the scenes.....keep paying your subs....." Oh, and on the subject of subs......

(Nice work if you can get it!!)



#89 boudicea

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Posted 04 April 2013 - 11:23 PM

I think our only hope now is, when they try this on the teachers, they will get duffed up, which will give us a chance to get it redressed.

I sincerely hope that will happen for all of you, mind you the arbitrageurs, government, and the banks in the city of london will find some way to rob everyone no doubt, just as they have with all those hard working baby boomers, who did save for pensions and were then robbed.






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