Public service pay cut?

Dav010

Sinzo wrote: »

If you can afford to pay 25k into your private pension then I wouldn't be including you as part of the squeezed middle.

You're obviously doing a lot better than the vast majority of civil servants.

You are assuming that the €25k is disposable income that the poster won’t need immediately. A lot of people pay into their pensions due to concerns about income/living standards after retirement, and often sacrifice the niceties others take for granted in order to do so.

Dublingirl80

EndaHonesty wrote: »

So you're admitting that the public sector don't contribute to their gold-plated pensions? That is perfect. Thank you.

I pay 25,000 into my pension in a good year. 12,000 in a normal year.

I don't think you understand as you don't have to pay It. Public service pay a levy that is a tax on their pension in addition to their pension payment. Maybe if you have 12000 to 25000 spare knocking around then you should also be paying a levy. Your job sounds great, what is it so we can all join?

EndaHonesty

Sinzo wrote: »

If you can afford to pay 25k into your private pension then I wouldn't be including you as part of the squeezed middle.

You're obviously doing a lot better than the vast majority of civil servants.

I pay myself less, and put more money into my pension because I have no faith in the state being able to provide for me when I'm older.

I have no faith in the state because we, as a country, spend too much money on pay and pensions for our public sector.

Dublingirl80

Dav010 wrote: »

You are assuming that the €25k is disposable income that the poster won’t need immediately. A lot of people pay into their pensions due to concerns about income/living standards after retirement, and often sacrifice the niceties others take for granted in order to do so.

Ah come on, 25000 available after tax and living expenses? He is earning a lot and still moaning like many in the private sector whonbash the public sector then ironically need them for their health, education of their children, roads, taxes, etc etc

Sinzo

EndaHonesty wrote: »

I've been paying into my private pension since 18. What's your point?

I won't receive a state pension when I retire.
Because the public sector will have sucked the state dry by then.
That's my point.

Well if that happens we will all be in the same boat. And if you are not a dodgy self returner and pay even 500 per annum in prsi you will get a pension. That's much more gold plated than a public servant s pension.

Its a real RIP off actually how the self employed can get a state pension even if they only pay 500 per annum for it. Then you have the cheek to criticise the public service pension. You're a little bit of a HYPOCRITE!

Dublingirl80

EndaHonesty wrote: »

I pay myself less, and put more money into my pension because I have no faith in the state being able to provide for me when I'm older.

I have no faith in the state because we, as a country, spend too much money on pay and pensions for our public sector.

Sounds like you could be paying more tax which could then go into the state pension you are so worried will disappear. 25000 spare cash. Rolling in money.

EndaHonesty

Dublingirl80 wrote: »

I don't think you understand as you don't have to pay It. Public service pay a levy that is a tax on their pension in addition to their pension payment. Maybe if you have 12000 to 25000 spare knocking around then you should also be paying a levy. Your job sounds great, what is it so we can all join?

You don't think that I make sacrifices to pay that much into my pension?
12k would be 30% of my income. 25k is 60%.

You have already admitted that your contributions "don't even go to paying the pension"...

EndaHonesty

Sinzo wrote: »

Well if that happens we will all be in the same boat. And if you are not a dodgy self returner and pay even 500 per annum in prsi you will get a pension. That's much more gold plated than a public servant s pension.

Its a real RIP off actually how the self employed can get a state pension even if they only pay 500 per annum for it. Then you have the cheek to criticise the public service pension. You're a little bit of a HYPOCRITE!

I am employed by a tax compliant limited company. I pay more tax than you will ever.

Vizzy

EndaHonesty wrote: »

I am employed by a tax compliant limited company. I pay more tax than you will ever.

Old saying - "You have to earn it to pay tax on it"

Sinzo

EndaHonesty wrote: »

I pay myself less, and put more money into my pension because I have no faith in the state being able to provide for me when I'm older.

I have no faith in the state because we, as a country, spend too much money on pay and pensions for our public sector.

End of Honesty
So you have more faith in the market, pension providers and the like. I wouldn't be too sure you wont get burned by that. You only have go go back to that favourite time of yours for an great example of the greed of the markets, the private sector and large corporations - your favourite subject - The dreaded Celtic Tiger .

EndaHonesty

Sinzo wrote: »

Well if that happens we will all be in the same boat. And if you are not a dodgy self returner and pay even 500 per annum in prsi you will get a pension. That's much more gold plated than a public servant s pension.

Its a real RIP off actually how the self employed can get a state pension even if they only pay 500 per annum for it. Then you have the cheek to criticise the public service pension. You're a little bit of a HYPOCRITE!

There's 2 boats;

Boat 1: The public sector pension with a state guaranteed gold-plated pension.

Boat 2: Middle class losers who pay for everything. 2030 on, no state pension.

EndaHonesty

Sinzo wrote: »

End of Honesty
So you have more faith in the market, pension providers and the like. I wouldn't be too sure you wont get burned by that. You only have go go back to that favourite time of yours for an great example of the greed of the markets, the private sector and large corporations - your favourite subject - The dreaded Celtic Tiger .

I have no choice simpleton. That's the point.

Sinzo

Vizzy wrote: »

Old saying - "You have to earn it to pay tax on it"

I'm sure he has some clever accountants making sure he doesn't pay his fair share of tax too...

Dublingirl80

EndaHonesty wrote: »

You don't think that I make sacrifices to pay that much into my pension?
12k would be 30% of my income. 25k is 60%.

You have already admitted that your contributions "don't even go to paying the pension"...

I still don't think you understand but I have explained twice. So we pay pension amount. We pay actually orphan ans spouse pension amount even if you have no child or spouse you have no choice and then they added a levy during the recession. Now the pension payments all go into the pension Enda. The levy is a tax on the pension. Does your pension amount get taxed as a matter of interest or is it off your gross? 12000 is 30 percent of your income. So you make 40000 and pay 25000 into your pension every year. Then you live off 15000 and that's before or after tax?

EndaHonesty

Sinzo wrote: »

I'm sure he has some clever accountants making sure he doesn't pay his fair share of tax too...

You're not sure of anything, that's clear.

Sinzo

EndaHonesty wrote: »

I have no choice simpleton. That's the point.

Enda .. you do have a choice you see.
You get the gold plated state pension if you are tax compliant, as you claim to be.

Then lucky for you, you have the choice of paying into your cushty private nest egg.

And on top of us paying for your state pension we also subsidise your private pension.

You are an A1 HYPOCRITE.

Sinzo

EndaHonesty wrote: »

You're not sure of anything, that's clear.

And we may even be subsidising you further by paying 80% of your employees wages for you.. whose the real one sucking diesel??

i dont see why some posters keep referring to projected private sector job losses as a reason for my pay to be cut

sure im not bailing out the private sector again. did that once already.

let them get a good job and not be always coming to us with their hands out. i pay my taxes i cant be treated like a bloody atm just because im a hard working public servant.

what are they trying to do? bleed me dry?!

Sinzo

Dav010 wrote: »

You are assuming that the €25k is disposable income that the poster won’t need immediately. A lot of people pay into their pensions due to concerns about income/living standards after retirement, and often sacrifice the niceties others take for granted in order to do so.

Yeah sure they do. That's all a bit of a fantasy. Its obviously important to invest in a good pension. But I dont believe its credible that he can pay 25 I into a pension and then scrimp on the niceties of life.
That doesn't ring true to me..

salonfire

The public service pension contributions are not as high as the people here like to make out.

1. They are pre tax, meaning you pay less tax on your gross.

2. The ASC doesn't apply to the first €34k.

3. The traditional contribution doesn't apply to the first approx €24.

In return, they will get an index linked, guaranteed pension + lump sum + spouse will continue to get half if the benefactor dies.

Dav010

[Deleted User] wrote: »

i dont see why some posters keep referring to projected private sector job losses as a reason for my pay to be cut

sure im not bailing out the private sector again. did that once already.

let them get a good job and not be always coming to us with their hands out. i pay my taxes i cant be treated like a bloody atm just because im a hard working public servant.

what are they trying to do? bleed me dry?!

When did you bail out the private sector?

EndaHonesty

Sinzo wrote: »

And we may even be subsidising you further by paying 80% of your employees wages for you.. whose the real one sucking diesel??

Ha... Are any public sector employees getting paid during covid? :rolleyes:

salonfire

[Deleted User] wrote: »

i dont see why some posters keep referring to projected private sector job losses as a reason for my pay to be cut

sure im not bailing out the private sector again. did that once already.

let them get a good job and not be always coming to us with their hands out. i pay my taxes i cant be treated like a bloody atm just because im a hard working public servant.

what are they trying to do? bleed me dry?!

Hope you are not in charge of any decision making or accounts!

You don't seem to understand falling incomes in the private sector means less money to pay your salary.

Sinzo

EndaHonesty wrote: »

You don't think that I make sacrifices to pay that much into my pension?
12k would be 30% of my income. 25k is 60%.

You have already admitted that your contributions "don't even go to paying the pension"...

You should get a new accountant... if you're paying 60 percent of your income into a private pension then your accountant isn't advising you very well or else you are some kind of millionaire entrepreneur with capital assets and unearned income lying around the place. The only other explanation is the auld black market or dodgy accounting practices and hiding wealth from the tax man..

Sinzo

salonfire wrote: »

The public service pension contributions are not as high as the people here like to make out.

1. They are pre tax, meaning you pay less tax on your gross.

2. The ASC doesn't apply to the first €34k.

3. The traditional contribution doesn't apply to the first approx €24.

In return, they will get an index linked, guaranteed pension + lump sum + spouse will continue to get half if the benefactor dies.

Firstly - Private sector workers, IF they pay into a pension also get the same tax relief as do the self employed
Secondly - Private sector workers get the widows pension ..

What do you mean by ASC and the traditional contribution??

salonfire

Sinzo wrote: »

Firstly - Private sector workers, IF they pay into a pension also get the same tax relief as do the self employed

Yes.

But private sector employees do not use the pension contributions as a means of moaning about how poorly paid they are.

In this thread, people use these contributions as if they are especially targeted to have their income reduced. It is outright lies.

Sinzo

salonfire wrote: »

Yes.

But private sector employees do not use the pension contributions as a means of moaning about how poorly paid they are.

In this thread, people use these contributions as if they are especially targeted to have their income reduced. It is outright lies.

Most private sector workers dont pay anything towards a private pension.

I'm certainly not moaning about how poorly paid public servants are.

Sinzo

EndaHonesty wrote: »

Ha... Are any public sector employees getting paid during covid? :rolleyes:

No .. they are not.
They are too busy keeping the show on the road .making sure that self employed people like your good self are kept in business..or making sure that private sector workers unfortunate enough to have been laid off get some help to keep them going.
I'm sure you're probably getting a big fat cheque from revenue to pay your employees...

Edgware

Sinzo wrote: »

Most private sector workers dont pay anything towards a private pension.

I'm certainly not moaning about how poorly paid public servants are.

Say it ain't so Krusty

EndaHonesty

Sinzo wrote: »

You should get a new accountant... if you're paying 60 percent of your income into a private pension then your accountant isn't advising you very well or else you are some kind of millionaire entrepreneur with capital assets and unearned income lying around the place. The only other explanation is the auld black market or dodgy accounting practices and hiding wealth from the tax man..

Ha... Who's bitterness is showing now?...