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[Rangie]

His pension will be forfeited.

The man who knows, that's good enough for me.

. 


Said that all along.

[Rangie]

On our regional news , brought disrepute to the service by stealing whilst in uniform , what a disgrace.

[Entwood]

and another one about to lose job and pension it would appear ....

https://www.bbc.com/news/uk-england-cornwall-55107433

I always thought coppers were picked for having "common sense" .... seems I was wrong !

[ronnyd]

Had a few living near me a while ago. Some of the antics were a way of saying "i'm above the law". Was very embarrassing for the young coppers who had to tell them to quieten down the rowdy parties at 3 in the morning. 

[Rangie]

and another one about to lose job and pension it would appear ....

https://www.bbc.com/news/uk-england-cornwall-55107433

I always thought coppers were picked for having "common sense" .... seems I was wrong !

.   

And who said romance was dead 😂😂😂

[hotel21]

There is no Police hedge fund or pension pot.  The monies taken today from serving cops as pension contributions get paid out to current pensioners tomorrow.

There is not one brass razzoo paid by HMG into the system.  It’s wholly self funded.

A number of factors, including the massive drop in serving cops, means it is not self sustaining and liable to bankrupt police authorities unless changed.

And so it was changed and ye olde 30 years service and retire was binned.

They now need to pay in a greater percentage for longer, to get less back! 

.......which causes more to leave, changing it from a career to a phase of employed life, and, in my opinion, a lowering of standards and reality expectations from both cops and public.

[LC0112G]

There is no Police hedge fund or pension pot.  The monies taken today from serving cops as pension contributions get paid out to current pensioners tomorrow.

There is not one brass razzoo paid by HMG into the system.  It’s wholly self funded.

A number of factors, including the massive drop in serving cops, means it is not self sustaining and liable to bankrupt police authorities unless changed.

And so it was changed and ye olde 30 years service and retire was binned.

They now need to pay in a greater percentage for longer, to get less back! 

.......which causes more to leave, changing it from a career to a phase of employed life, and, in my opinion, a lowering of standards and reality expectations from both cops and public.

Sorry, but that's complete rubbish. There is NO police pension fund. It is not self funded. It is paid for by tax payers. Same as Teachers, Civil servants, firemen, armed forces etc.

The money paid by serving coppers is (NOW) supposed to be representative of private pension schemes, but in the real world it is no-where near comparible. For a private pension to pay out anything similar to what a public sector pension pays you would have to pay at least double what is deducted from a police-mans salary. They are gold plated, not subject to investment performance, and very very low risk.

Yes there have been changes in the past 10 years or so which means the deductions from the police salaries are now more than they used to be, but these deductions don't come anywhere close to covering the full cost to the tax payer of the pension that will be paid out in future years. But the pension that is built up is still massively better than anything you can build in the private sector.

[hotel21]

There is no Police hedge fund or pension pot.  The monies taken today from serving cops as pension contributions get paid out to current pensioners tomorrow.

There is not one brass razzoo paid by HMG into the system.  It’s wholly self funded.

A number of factors, including the massive drop in serving cops, means it is not self sustaining and liable to bankrupt police authorities unless changed.

And so it was changed and ye olde 30 years service and retire was binned.

They now need to pay in a greater percentage for longer, to get less back! 

.......which causes more to leave, changing it from a career to a phase of employed life, and, in my opinion, a lowering of standards and reality expectations from both cops and public.

Sorry, but that's complete rubbish. There is NO police pension fund. It is not self funded. It is paid for by tax payers. Same as Teachers, Civil servants, firemen, armed forces etc.

The money paid by serving coppers is (NOW) supposed to be representative of private pension schemes, but in the real world it is no-where near comparible. For a private pension to pay out anything similar to what a public sector pension pays you would have to pay at least double what is deducted from a police-mans salary. They are gold plated, not subject to investment performance, and very very low risk.

Yes there have been changes in the past 10 years or so which means the deductions from the police salaries are now more than they used to be, but these deductions don't come anywhere close to covering the full cost to the tax payer of the pension that will be paid out in future years. But the pension that is built up is still massively better than anything you can build in the private sector.

Let’s agree to disagree....   

[LC0112G]

There is no Police hedge fund or pension pot.  The monies taken today from serving cops as pension contributions get paid out to current pensioners tomorrow.

There is not one brass razzoo paid by HMG into the system.  It’s wholly self funded.

A number of factors, including the massive drop in serving cops, means it is not self sustaining and liable to bankrupt police authorities unless changed.

And so it was changed and ye olde 30 years service and retire was binned.

They now need to pay in a greater percentage for longer, to get less back! 

.......which causes more to leave, changing it from a career to a phase of employed life, and, in my opinion, a lowering of standards and reality expectations from both cops and public.

Sorry, but that's complete rubbish. There is NO police pension fund. It is not self funded. It is paid for by tax payers. Same as Teachers, Civil servants, firemen, armed forces etc.

The money paid by serving coppers is (NOW) supposed to be representative of private pension schemes, but in the real world it is no-where near comparible. For a private pension to pay out anything similar to what a public sector pension pays you would have to pay at least double what is deducted from a police-mans salary. They are gold plated, not subject to investment performance, and very very low risk.

Yes there have been changes in the past 10 years or so which means the deductions from the police salaries are now more than they used to be, but these deductions don't come anywhere close to covering the full cost to the tax payer of the pension that will be paid out in future years. But the pension that is built up is still massively better than anything you can build in the private sector.

Let’s agree to disagree....   

Ok, you go on living in your dream world. However, in the real world...

https://www.unbiased.co.uk/life/pensions-retirement/public-sector-pensions.

[Doctor Gollum]

There are very few genuine careers left. Life is just a string of 'jobs'.

[Doctor Gollum]

I think Broccie has a pretty good idea of how his pension works

[STEMO]

I think Broccie has a pretty good idea of how his pension works

His pension will probably be pre 2016.. so a final salary scheme. Post 2016 it became a career average scheme. When wifey became a teacher in 1972, she was supposed to retire at 60, and her contribution was 6% of her salary. She now pays 11.7% of her salary and will get her full pension at 67. There are ways to retire earlier, but on a much reduced pension.
Malcolm is right about the way the scheme works for all public servants. No pot, just an IOU.

[STEMO]

Why it is such a good pension, btw, is that while she contributes 11.7% of her salary, her employer contributes another ~13%, meaning there is a total of ~25% of her salary going into the scheme.

[Migv6 le Frog Fan]

Bit I imagine a guaranteed amount on retirement, and not dependent on how the investment of contributions perform ?

[Broomies Mate]

Why it is such a good pension, btw, is that while she contributes 11.7% of her salary, her employer contributes another ~13%, meaning there is a total of ~25% of her salary going into the scheme.

I'm guessing that ~13% is coming directly from the taxpayers pocket?