No, it doesn't concern all public sector employees, it concerns the ones currently at the beginning of their career and the ones that will enter it in the future.
French pension strikes
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In the latest episode of the United Hour Podcast, Nik and Imran hold a long overdue conversation about United's awful league form with 1 win in 7. They discuss a disappointing draw at Bournemouth, a not so disappointing draw against Liverpool and a crushing defeat at Chelsea - Is time nearly over for Erik Ten Hag?
Then in a special second half of the pod, Nik welcomes Natalie ( https://twitter.com/natalie_17) to discuss the fortunes of Manchester United Women as they booked a place in the FA Cup Final after a historic first ever win vs. Chelsea.
TwoSheds
More sheds (and tiles) than you, probably
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How are 45 year olds at the beginning of their career though?No, it doesn't concern all public sector employees, it concerns the ones currently at the beginning of their career and the ones that will enter it in the future.
For most people it will be the first half of their career and the ones with long careers are supposed to be compensated. And the point being that it doesn't concern everyone and it doesn't concern the example that you used about someone with 30 years of service.How are 45 year olds at the beginning of their career though?
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11101
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If only it was that simple.Of course it does and of course we can.
It's all funny money, made up as we go along to suit whoever has the most of it. That's what quantitative easing means - create money, give it to rich people. Why not use the QE money to go in the national pension pot, from which it can be invested in money making ventures? Or into a sovereign wealth fund / national investment bank? Nope, it goes into private banks to cover for their incompetence.
Money is just a tool for dividing up the spoils of the economy, if we wanted to use it to pay for good things we could.
André Dominguez
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So the UK spends £100,000,000,000,000.00 every year? Your pensionists must live in big houses with swimming pools. That's £107K for every UK inhabitant for a month. How is that even possible?The banks had been piling money into the system for decades into the run up, from memory in the UK it was something like around 250b per year. The bailouts themselves weren't actually that big of a deal. They also (mostly) paid or will pay it back afterwards.
In the UK the current state pension cost is around 100b and is projected to rise to almost 500b 50 years from now, whilst GDP will only double. @TwoSheds it doesnt matter what is promised. I realise it's unfortunate but we literally cannot afford that.
Wednesday at Stoke
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So apparently there's call for a nationwide transport strike on Monday the 16th. I'm scheduled to fly in and out of CDG with a 2 hour layover.
MTF
Full Member
No, you made it 100 trillion.So the UK spends £100,000,000,000,000.00 every year? Your pensionists must live in big houses with swimming pools. That's £107K for every UK inhabitant for a month. How is that even possible?
André Dominguez
Full Member
Oh, nevermind. I forgot that the billion concept differs from country to country. Sorry about that.No, you made it 100 trillion.
So it would be £107 per inhabitant. It doesn't seems that much if you bare in mind the average wage on the UK. Now, 500b would be unsustainable, I agree.A billion is a number with two distinct definitions:
- 1,000,000,000, i.e. one thousand million, or 109 (ten to the ninth power), as defined on the short scale. This is now the meaning in both British and American English.[1][2]
- 1,000,000,000,000, i.e. one million million, or 1012 (ten to the twelfth power), as defined on the long scale. This is one thousand times larger than the short scale billion, and equivalent to the short scale trillion. This is the historic definition of a billion in British English.
MTF
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That's the problem with the pension issue globally. It's not that there's people out there that are living like kings off of their pension, it's just that a bit too much promised to everyone. So the optics of having to reduce what already doesn't seem like the most generous programs are terrible, but it will have to be done at some point.Oh, nevermind. I forgot that the billion concept differs from country to country. Sorry about that.
So it would be £107 per inhabitant. It doesn't seems that much if you bare in mind the average wage on the UK. Now, 500b would be unsustainable, I agree.
Like someone said earlier, it has become an issue in pretty much every country, developed and developing. The initial math of these plans from decades ago just wasn't accurate in terms of what was going to happen to demographics (not blaming people, they'd need a crystal ball to be accurate).
coolredwine
lameredboots
Think it's on Tuesday, 17th Dec.So apparently there's call for a nationwide transport strike on Monday the 16th. I'm scheduled to fly in and out of CDG with a 2 hour layover.
TwoSheds
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It is that simple. You've just been told all your life that it's not. Privatising profits and nationalising losses is not fair and it's not normal. It has just become "normal" for our ridiculous Americanised system.If only it was that simple.
The economy grows more when the poor get richer than when the rich do because they actually spend the extra money. How many times have you heard the UK described as having a "productivity problem"? That's what happens when you don't distribute the wealth relatively fairly. People don't get paid enough, they can't spend money, it's not rocket surgery.