The end of the AFPRB as we know it?
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Whether it makes sense or not is irrelevant. The chancellor has tried to make our service more comparable to the civil sector and failed. No issues with performance related pay, but please at least try and keep up with the t and cs and renumeration if you are going to.
Also forgets that performance in the service doesn't always equate to primary role. So we are going to end up potentially with a load of good guys who do little more than flying marking time, and flying officer brown nose, chairman of the mess cuddly toys now being rewarded.if we are going to do comparative pay, how about pay for aircraft command? IRE? EWI? QWI? QFI?
Oh no, that's right, that involves increasing the budget. So not a chance
Cpl Clotts figures also miss out cheap medical insurance for family, upgrades to business and a 15% company contribution to your pension pot. Your pension pot. Some thing you can do what you want with. Not be promised X, sign on to TOS to 55/65 then only receive 2/3 of X once you are so long in the tooth you have no option other than to stay
I don't own this space under my name. I should have leased it while I still could
Performance pay, like the notorious CS bonus system is so open to arbitrary variation if not cronyism.
The CS system involved a 1 and 2 RO write up and sign off by a 3rd, at one point that was a 2* then when we went purple a mere Colonel.
We were 'pooled' with a number of others in totally different roles and locations. The least bad year 10% got an enhanced bonus, 80% a standard bonus, and 10% no bonus. It was unfunded across the board by reducing basic pay by 10%.
In other words, just rearranging the deck chairs. I guess in Service there will be some low hanging fruit for low award, first tourists, first new role, first on promotion, those that PVR.
There will be a potential for a pay drop year on year.
I expect this will continue until morale improves
The CS system involved a 1 and 2 RO write up and sign off by a 3rd, at one point that was a 2* then when we went purple a mere Colonel.
We were 'pooled' with a number of others in totally different roles and locations. The least bad year 10% got an enhanced bonus, 80% a standard bonus, and 10% no bonus. It was unfunded across the board by reducing basic pay by 10%.
In other words, just rearranging the deck chairs. I guess in Service there will be some low hanging fruit for low award, first tourists, first new role, first on promotion, those that PVR.
There will be a potential for a pay drop year on year.
I expect this will continue until morale improves
VR, don't get me wrong, I fully endorse your encouragement for people to take stock and act accordingly in their own interests. I was only taking issue with the seeming endorsement of a possible BA career for those who might take the plunge. I would counsel a thorough research of the UK civil airlines before taking that plunge. If there were ever a dilution of the LHR slots that BA holds (not owns, of course) then the outlook would not bode well for it.
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Over my years I ended up in front of an AFPRB several times. Each time I was impressed by the quality of the members, many of whom seem to have been tame appointees that went rogue when given the responsibility.
Agree totally about the quality of the members of the AFPRB, I was always humbled by the breadth of knowledge and critical analysis they could bring to bear. That said, I totally disagree with the assertion that they, " went rogue when given the responsibility." There is plenty of evidence to support the view that the AFPRB did their job to the letter of their remit but were frustrated by Treasury failing to listen to their views.
Exhibit A: http://alasdairmsmith.********.com/2...rom-afprb.html
Exhibit A: http://alasdairmsmith.********.com/2...rom-afprb.html
Cpl Clotts figures also miss out cheap medical insurance for family, upgrades to business and a 15% company contribution to your pension pot. Your pension pot. Some thing you can do what you want with. Not be promised X, sign on to TOS to 55/65 then only receive 2/3 of X once you are so long in the tooth you have no option other than to stay
You are right, you can’t take it to ‘do what you like with’, but sometimes we all need protecting from ourselves and frittering away something that we will all need in the future. Also, looking at the crazy money Mrs LJ has invested in civvy pension schemes, and the pittance they currently plan to pay out, then I know where I want my pension pot to reside!
Thread Starter
Vin, once you have earned that pension it is normally protected under AFPS. Hence, pretty much everyone right now is on either AFPS75/15, AFPS75/05/15 or AFPS05/15 terms right now - ie. the pension rights already accrued are protected. Also, the annual pension statement shows you what you have earned so far.
You are right, you can’t take it to ‘do what you like with’, but sometimes we all need protecting from ourselves and frittering away something that we will all need in the future. Also, looking at the crazy money Mrs LJ has invested in civvy pension schemes, and the pittance they currently plan to pay out, then I know where I want my pension pot to reside!
Reading the papers ahead of the budget made me think just how much political risk there is attached to our pensions. There are so many folk out there that utterly resent public sector pensions that the pressure to axe them or at best prune them back massively to the same poor pensions the private sector get is horrific. I’m not going to rehash the arguments about the rights and wrongs, but there is huge risk that we won’t actually get what has been promised. Not necessarily through scrapping them outright, but they could easily change the tax arrangements so that what looked like a comfy pension is suddenly halved by doubling the multiplier for tax purposes. And if Corbyn gets in, we’re doubly screwed being ‘rich’ ie having worked in a half decent job!
Combined with the risk to the State Pension, our eggs really are in one basket. As well as diversifying into ISAs and other areas, it almost makes one consider jumping ship to bank what has already been earned.
Your pension maybe protected under the Scheme, but only for as long as HMG choose to honour it. As has been said, our pensions are a promise. And hands up who’s been on a promise before only to be disappointed in the end?! (And I’m not just talking about finding out those stockings are actually tights!)
Reading the papers ahead of the budget made me think just how much political risk there is attached to our pensions. There are so many folk out there that utterly resent public sector pensions that the pressure to axe them or at best prune them back massively to the same poor pensions the private sector get is horrific. I’m not going to rehash the arguments about the rights and wrongs, but there is huge risk that we won’t actually get what has been promised. Not necessarily through scrapping them outright, but they could easily change the tax arrangements so that what looked like a comfy pension is suddenly halved by doubling the multiplier for tax purposes. And if Corbyn gets in, we’re doubly screwed being ‘rich’ ie having worked in a half decent job!
Combined with the risk to the State Pension, our eggs really are in one basket. As well as diversifying into ISAs and other areas, it almost makes one consider jumping ship to bank what has already been earned.
My understanding is AFPS 75 is fully protected. The others did not have the same level of protection due to the legal way they were written.
Someone will be along to correct me?
Thread Starter
It may well be - I'm no expert on pensions policy - but they can still easily knobble you if the political pressure grows to an unsustainable level to narrow the gap between public and private sector pensions. All it takes is to increase the multiplication factor used to calculate the notional tax value and your pension instantly becomes less valuable in terms of the amount landing in your bank account because more is removed in tax because you now exceed a notional limit. That I can see happening quite easily and would be a vote winner. Never mind that the private sector can afford to pay out eye watering sums to its Execs, and should probably therefore look internally first off, it's lets hammer the public sector pension season. And that is a real worry as we approach the back end of a weak Parliament with votes needing to be won.
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And an NHS budget that is a disgrace that no MP seems to have the balls to address, The issue isnt a lack of funding. Its an expectation that hasnt been managed particularly well that you will recieve horrendously expensive treatment well past your 80s.
I don't own this space under my name. I should have leased it while I still could
The AFPRB has been in existence for about 50 years far longer than the Grigg Committee that preceded it which existed for about 15 years. The GC used to give pay rises such as the headline grabbing 7%, half or less this year and the rest the next year. Worked out at about 5.25% pa and less than inflation.
