Joined: 14 Apr 2006 Posts: 2775 Location: South West
Posted: Sun Apr 04, 2010 3:42 pm Post subject:
The MPs’ scheme is one of the most generous in the public sector. Members contribute between 6% and 10% of their salary to the pension fund, which accrues up to 1/40th of a member’s final salary for each year they serve in parliament.
Most generous! The pension scheme they voted for themselves is unbelievably generous. An accrual rate of 1/40th beats the accrual rate of the police scheme (1/60th for 20 years then 2/60th), the civil service scheme (1/60th until recently) and the allegedly 'gold-plated' local government scheme (1/80th until recently). An MP retiring this year after 20 years in Parliament gets a pension of half final salary when somebody retiring from local government would need to have worked 40 years for half of a considerably lower salary.
Read the relevant sections and you will realise why so many of them are hanging on 'til the bitter end.
It will be interesting to see how many of the proposed changes are included in the next edition - and what airy-fairy definitions and loopholes will be included that will allow the parasites to continue to take us to the cleaners.
Joined: 21 Nov 2005 Posts: 5467 Location: Hampshire
Posted: Wed Nov 17, 2010 10:33 am Post subject:
am leaving Ireland at the top of this section, because I believe that it will affect most of us as some time. I received the following today from David Ashton - it is well worth reading.
The MPC and Mervyn King have a brief to control inflation by varying the bank rate. That is their brief given to them by the unlamented Gordon Brown. Mervyn King does not have a brief from either George Osborne or Gordon Brown to steal from my savings and our children’s pension funds by failing to control inflation. Neither does he have brief to take money from worker/savers and donating it to feckless borrowers and buy-to-let landlords. However that is the effect of too-low interest rates and ‘QE’ The MPC have failed to control inflation for over 8 months now and they are forecasting that they will fail for at least another year. Is n’t it time to pull the plug on the MPC? (and to sack Mervyn King)? 2. Ireland. I have seen George Osborne on TV talking about supporting Ireland with their current economic problems. I realize that 7% of our exports go to Ireland so if they go down many UK jobs will be lost. Also, I know that Alistair Darling stuffed us with a legally signed agreement for up to £6.9 billion of support for countries with this type of problem. This signed agreement is triggered by Qualified Majority Voting (QMV) so we are stuffed by this too by the Stuffer of Stuffers Tony Blair who agreed to all this QMV. However, the European Bank is in it deeper and, since we are not in the Euro that part does not affect us like it affects (for example) Germany.
On the other hand, Ireland has been leaching off the UK for decades by EU financial support and by taking overseas biz HQ's from us by their Corporation Tax which is much lower than ours. This attracted multinationals away from us who used to come to the UK because of the ubiquity of the English Language. Low Irish Corporation Tax (at our expense) is only possible because of the megabucks that the Irish have had from the EU where we are one of biggest contributors.
So, Osborne should make any support conditional. George Osborne and David Cameron have talked the talk. When will we see them walk the walk? So far, I have not seen any concrete results in government support for UK interest in EU financial affairs so, I am watching thus space.
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