Petition to reinstate RPI

[Bladdered]

Cut an pasted from an e-mail just received - I resent the old folks bit;)

The Forces Pension Society, which sends a regular newsletter with lots of useful nuggets of information in it for us "old folks"! The one that's just come, tells of an RPI/CPI e-petition which has been established by a Civil Servant hoping to reverse the Government's decision to link pension increases to CPI instead of to RPI. The Government will debate e-petitions that achieve 100,000 signatures, so please can you pass on the following link to all of the Bucc assoc members in the hope that they'll sign it, as it affects all of us old codgers. The link is:

https://submissions.epetitions.direct.gov.uk/petitions/1535/signature/new (https://submissions.epetitions.direct.gov.uk/petitions/1535/signature/new)

[Always a Sapper]

Signed, but in all honesty unless the MP's pensions are affected I think there's more chance of bringing back the Harrier and Nimrod fleets :(

[VinRouge]

I suppose the boomer generation expects the next 3 generations to pay for this, on top of the 300% house price rises they enjoyed and the deficit caused by the excessive asperations of the governments they voted in?

[Sygyzy]

Not expecting anyone to pay for it. The money is already in the fund, just bureaucrats trying to find some money from somewhere/shaft the easy pickings.

Pity that you're not a little older, you might be better read, possibly wiser and certainly square shouldered.

S

[RetiredSHRigger]

VIN ROUGE
Irrespective of the state of the country! I still believe it just and proper that the pensions we receive, use the same system to calculate the annual percentage increase as when we signed on the dotted line. Surely our pension is still part of our original contract of employment!!!!! Rant over:mad::mad::mad:

[Misformonkey]

I suppose the boomer generation expects the next 3 generations to pay for this, on top of the 300% house price rises they enjoyed and the deficit caused by the excessive asperations of the governments they voted in?

I think we all expect to get what we signed up for, not some stealth watered down pension. I'm 37 so is it also my fault?? Do I expect the next 3 generations to pay for my pension that I've worked the last 20 years for and agreed too when I signed my contract. Yes I do, like my future earnings would be expected to pay for previous Servicemen's continued pensions. I think you need to realise that people have worked hard and then to have a good portion of their pension removed is not taken lightly.

End of rant.

[VinRouge]

We are all in the same boat I am afraid. I am looking at working till at least 70 before getting a state pension. The people who are going to really suffer from all the profligacy wont be the people with a fortune in equity to spend in retirement; it will be those who are expected to pick up the tab for all that inflation and of course paying off the deficit.

Those that are still in are about to get the bigger shafting, with the announcements still due (especially those serving post 2015).

Rant all you like. doesnt change the fact that the previous generations had it too good. Eating ones children springs to mind.

http://www.amazon.co.uk/Pinch-Boomers-Their-Childrens-Future/dp/1848872313

[Rigga]

I'm not alone in saying that I've spent 36+ years donating money for a retirement of a minimum standard and I begrudge letting it go on an accountants whim. And especially if it's the accountant's fault!

And I don't actually mind working til I'm 70 (but, given how grumpy I am now, I really pity the people working with me then!)

CPI was invented purely to make Liarbour look better and the Cons have grabbed it with both Mitts to rob more from us.

[Siggie]

David Willetts blames feminism over lack of jobs for working men | Politics | The Guardian (http://www.guardian.co.uk/politics/2011/apr/01/david-willetts-feminism-lack-of-jobs)

From the same crackpot you chose to support your case VR Do you support that idea too?

[kiwibrit]

Signed. Will not hold my breath.

[Pontius Navigator]

RetiredSHRigger, when I signed the dotted line the promised pension was £401 PER YEAR.. There was, IIRC, no mention of inflation and pay rises, if any, were on the recommendation of the Griggs Committee and paid over 2 years.

As food and accommodation was free the pension was paid on a smaller salary base.

One might consider Harold Macmillan's famous phrase of 'you've never had it so good.' Why, this year, Mrs PN has dropped out of the tax bracket entirely and we struggle to pay for our 5 holidays this year on top of the kitchen refurb. :)

I think the petition is simply pie in the sky and tries to show that the FPS is doing something.

[cazatou]

Vin Rouge

It is obvious that you have never had to live as part of a family of 5 in a 2 bedroom flat in a street where a third of the houses had been destroyed by V weapons or conventional bombing. You will not have had the experience of walking to the local Store with sixpence (2 1/2 pence today) and your ration card wondering which colour boiled sweets you should buy. Even the clothes you were dressed in were rationed.

I doubt that many of the children in your school had no recollection of their Fathers - because their Fathers never returned from the War.

PS When the State Pension was introduced it was for Men only commencing at the age of 70.

PPS The first House I bought sold recently for 1200% of the price I paid when it was built.

[The Old Fat One]

Vin

I'm not quite a baby boomer, but I an an old fart who is getting my pension so pin your ears back and listen up...

I completely agree with you.

We are all in this and some of us have had it well good. For the vast majority enjoying the benefits of a pension that future generations will not get, this change amounts to buttons. I give way more than this by Standing Order to my favoured charity every month.

Some of you old timers need to have a look at yourselves and pick your battles a bit harder. Irrespective of past hardships we need to do our bit as well, and frankly, compared to the cutbacks to pensions in various other countries we have not yet been asked to do much. RPI to CPI is f*** A** for most of us, so I will give it up, so I can legitimately rant at some of the other public sector chisellers currently striking in defiance of reality and the need to as least bow a little towards austerity.

[kiwibrit]

Rant all you like. doesnt change the fact that the previous generations had it too good.

Hmm. Today's low interest rates mean that I am probably subsidising your mortgage with my savings.:)

[Karma022202]

If you have savings and a mortgage then pay off the mortgage first. Over paying can save you thousands and you will pay off your mortgage earlier.

[Top Bunk Tester]

oh God, now he's an IFA as well :ugh:

[Karma022202]

I have not, nor am I qualified to give anybody any financial advice it is purely my own opinion. You see paying off the mortgage guarantees that you will save yourself the interest. Investing the money means you are assuming the investment will make a larger return than your borrowed money. Anyone who has been alive more than three years knows the investment market can be quite volatile.

[Top Bunk Tester]

I am so lucky that my grandmother knew how to suck eggs :ok:

[Tankertrashnav]

.. RetiredSHRigger, when I signed the dotted line the promised pension was £401 PER YEAR

Funnily enough PN that's not far off what my teacher's pension is now, in 2011! Mind you I only managed 2 years and a few days contributions before I bailed out of teaching. Just in time before my sanity went!

Karma, a joke's a joke, but you really dont know how to judge it, do you? Think I'll press that little complaint thingy and get you removed - you've had a good run.

[RetiredSHRigger]

:ok:TTN
Managed 4 yrs in a civi aviation maufacturing office enviroment nxt stop heart attack and still managed £900 pa pension with immediate effect! just a nice top up to the military one thanks

Karma
Crawl back under your stone:mad:

[Bladdered]

http://the-end-time.********.com/2011/02/comet-elenin-is-coming.html

Oh well, if the doomsters are right, the world is going to end when Comet ELEnin (Extinction Level Event) either hits the planet or causes so much additional solar/tidal activity that life will end :sad:. So I guess the fact that there is currently a difference of >0.75% between CPI (4.25%) and RPI (5%) does not really matter. Well at least until the 10th November when we are all still here.

[cazatou]

As I was an RAF QFI/Examiner and IRE can I claim a Teachers Pension as well as my RAF Pension? :)

[Fox3WheresMyBanana]

Nope, you're overqualified.

Seriously, you know how to use colour!

[cazatou]

Fox 3

You forgot "Overhead Projection"

(As well as good use of colour.)

PS My Big Brother lives near You!!

[Fox3WheresMyBanana]

Careful,
I have a loaded banana and I'm not afraid to use it.


Anyway, your putative Teachers Pension would also suffer from the RPI trick.
I fail to see why politicians should not impose any public sector changes on their own pensions. Example is the basis of Leadership, nicht war?


Bladdered: The NASA guys are not quietly buying up tinned foods and leaving town. But thanks for the info, I shall use it in my first Astronomy lecture this semester, for a laugh.

[MOA]

I have not, nor am I qualified to give anybody any financial advice it is purely my own opinion. You see paying off the mortgage guarantees that you will save yourself the interest. Investing the money means you are assuming the investment will make a larger return than your borrowed money. Anyone who has been alive more than three years knows the investment market can be quite volatile.


This is not your opinion as it is a cut and paste from 'Money help for Christians'

Just as your helpful medical info on the Tri* thread was a cut and paste from wikitravel.

Where did you cut and paste your SAS career from?

[soddim]

My company pension scheme tried to use CPI instead of RPI but rapidly threw that idea away when legal advice told them that they would be in breach of the pension contract with scheme members. The Service pension was also linked to RPI and prospective recipients suffered adjustments to salary increases in every annual review to take account of the 'relatively generous pension'.

I believe the government is in the same position as my ex-company in that the link to RPI was a contractual issue not an option.

To those who whinge about the prospect of being worse off in retirement than the present retired community I would merely point out that it was not the older folk who borrowed money that they could not afford to pay back or who sold mortgages to similar people - we learned from an early age that if you could not afford it you did not buy it. Whilst I am concerned that my children might be poor in old age, any reduction in my Service pension does nothing to help me to leave them in a better position.

[sluf goat]

keep signing more numbers required :D:D:D