jess1984 wrote: I have a situation..one wouldn't say it's a bad one but I'm really stressed about it. I work in the private industry, it's a high pressure role. I work Christmas day, public holidays, weekends though my position is supposed to be Monday to Friday - 8 to 4, usually finish at any time up to 10 pm and could start at 0500 am. Trying to get vacation is tough, you have to find coverage. You are expected to provide coverage for others. Your expected to check your emails when you are off. In saying all this I do get paid well. But I'm always stressed and tired. Plus the 1 other person in my department in our Irish office stinks and drives me around the bend. Im with the company 8 years. I've now been offered a permanent position in a local authority. The work life balance would be amazing but my salary will drop by €12 k. I'm so stressed about this. I know money doesn't buy happiness but I'm literally getting sick about this decision. Has anyone been in a similar situation? Thanks for any advise.
hooplah wrote: » What sort of pension are you on now? What sort of pension would you get if you work from here to retirement in the public sector? Unless you are currently on a defined benefit pension there's a good chance the improved pension will remove a good bit of that 12k.
pearcider wrote: » Well in that case it's a no brainer!
relax carry on wrote: » 12k gross pay gap or 12k net pay gap? Does the public sector job have an incremental salary scale?
judeboy101 wrote: » You'll pay more into a public pension than you'll get out of it if you are a post 2011 entrant, plus you'll never be on the same money as those around you as your scale will be lower.
jess1984 wrote: » 12k gross. Not taking overtime into the equation at all. Yes there are increments each year. In about 9 years I'd be on what I earn now. That's staying in the role and not progressing
As detailed in Section 1 there is an acknowledgement, within the Public Service Stability Agreement 2018-2020, of issues of concern relating to the increased length of salary scale for post January 2011 new entrants. In recognition of this the Agreement commits all parties to an examination of remaining salary scale issues. This process got underway in October 2017 with an initial discussion of the issue between the parties to the PSSA. Since then a significant data gathering and analysis exercise has been undertaken culminating with this report, in line with the legislative requirement, which outlines the costs associated with the remaining salary scale issues. It is intended that this report will provide the evidence base for further engagement over the coming months between the parties to explore how the matter can be addressed in line with the terms of the PSSA.
barneystinson wrote: » judeboy101 wrote: » You'll pay more into a public pension than you'll get out of it if you are a post 2011 entrant, plus you'll never be on the same money as those around you as your scale will be lower. I don't see how you state either of those things as definitive statements. You must have a poor understanding of the value of a DB pension if you think the first is true (or else you are making assumptions about future events). The second, while currently true, may not remain true. And even if it does, in the context of the OP's current dilemma I don't really see the relevance...?
judeboy101 wrote: » OP will pay prsi plus pension levy plus other pension related deductions, his final pension will be based on an average of his lifetime salary and will be just state pension plus top up. So if OP for example thinks he'll get 500 pw pension he's really paying all his prsi plus pension levy plus pension related reductions for (500 - contributory). He'd be better off working in Aldi as the "golden public sector pension" is, post 2011, a money pit.
judeboy101 wrote: OP will pay prsi plus pension levy plus other pension related deductions, his final pension will be based on an average of his lifetime salary and will be just state pension plus top up. So if OP for example thinks he'll get 500 pw pension he's really paying all his prsi plus pension levy plus pension related reductions for (500 - contributory). He'd be better off working in Aldi as the "golden public sector pension" is, post 2011, a money pit.
Reputable Rog wrote: » People are queuing up to get into the Public Service ( same people who wouldn't have got out of bed for the salary on offer in the PS a few years ago), 12k stripped down is not a whole lot of money. Take this opportunity whilst you have it.
jimmycrackcorm wrote: » judeboy101 wrote: OP will pay prsi plus pension levy plus other pension related deductions, his final pension will be based on an average of his lifetime salary and will be just state pension plus top up. So if OP for example thinks he'll get 500 pw pension he's really paying all his prsi plus pension levy plus pension related reductions for (500 - contributory). He'd be better off working in Aldi as the "golden public sector pension" is, post 2011, a money pit. Given the op doesn't currently have a pension then it's still better to take the lower paid PS job with guaranteed pension. Even with the pension deductions, the cost of achieving the equivalent in the private sector is exorbitant in compassion.
judeboy101 wrote: » No it's not. OP would be better investing in anything other than a public pension. He is guaranteed to pay in way more than he will get out. He prob already has 520 stamps for the contributory so he could spend the next 30-40 years paying in up to 8k a year for maybe a 6k a year bump in his pension. OP do NOT be fooled by public sector, you are not guaranteed promotion especially if coming from private sector.
DanDublin1982 wrote: » judeboy101 wrote: » No it's not. OP would be better investing in anything other than a public pension. He is guaranteed to pay in way more than he will get out. He prob already has 520 stamps for the contributory so he could spend the next 30-40 years paying in up to 8k a year for maybe a 6k a year bump in his pension. OP do NOT be fooled by public sector, you are not guaranteed promotion especially if coming from private sector. Gonna need more than 520 stamps under the new pension regulations to get a good state pension. Edit:link removed. I wasn't providing good info there it seems. The last bit is nonsense. The interview board I recently sat in front of was compiled of three private sector employees. There's no bias against it in competitions. Also, of course, no one is guaranteed promotion. OP as to your dilemma I say take the new job. I'd much rather have my evenings and weekends than the extra cash.
judeboy101 wrote: » Bull, 520 stamps is what you need and I'm calling bull on a public job promotion interview that is decided by private sector. OP you'll be marked the day you arrive from private sector as either (a) couldn't handle it in big bad world (b) sunshiner or (c) blow in potentially taking promotions from lifers.
