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What to spend average public service retirement gratuity on - 2 new apartments?

  • 14-05-2011 02:21PM
    #1
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭


    Retiring public servants get a lump sum gratuity payment of a year and a halves finishing salary , tax free, in addition to their normal pension of 50% of finishing salary.

    Average salary in the public service is only € 47,000 per annum according to the cso ( www.cso.ie ) but remember finishing salaries are on average considerably higher due to age, promotion, increments etc.
    80k will but not one but two new apartments in some parts of the country.
    http://www.daft.ie/searchnew_development.daft?id=12590

    Begrudgers may ask in what other ( bankrupt !) country would the average retiring public servant - in addition to their annual pension - get a cash tax free amount equivalent to a couple of nice new apartments, built to government specifications in scenic areas, as a tip ?

    A few colleagues and acquantances have retired lately. What does the average public service retirement gratuity get spent on? Usually kids are raised, mortgage paid off etc so should it be
    • 2 apartments in Ireland
    • a weekend in Las Vegas
    • a golf villa in Portugal
    • helping the kids get on the housing ladder, or what ?
    Tagged:


«1345

Comments

  • #2
    mikemac
    Closed Accounts Posts: 19,967 ✭✭✭✭mikemac


    Not so thinly veiled bashing thread

    I wish we had a truce on these

    What do you mean " only € 47,000 "?


  • #3
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    Here we go again, more public servant bashing.
    Any excuse dredged up to have a go at them and taint them all with the same brush!


  • #4
    hondasam
    Closed Accounts Posts: 34,418 ✭✭✭✭hondasam


    It's been awhile sense we bashed the Public servants. I have missed it.


  • #5
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    feelingstressed wrote: »
    " only € 47,000 "?
    because its less than our average public sector pay a few years ago.

    What would you spend your gratuity on ? Please do not be jealous if you are not getting one.
    Some in the private sector like Fitzpatrick of Anglo Irish bank gets more. The rest of us deserve a gratuity too.


  • #6
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    Please don't feed it!


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  • #7
    mikemac
    Closed Accounts Posts: 19,967 ✭✭✭✭mikemac


    gigino wrote: »
    because its less than our average public sector pay a few years ago.

    You're just begging for a reaction and this thread to descend into bashing and anger

    Which it will very shortly


  • #8
    ChunkyLover_53
    Closed Accounts Posts: 901 ✭✭✭ChunkyLover_53


    Sweet! I'm goin' to Vegas! So long suckers!


  • #9
    General General
    Registered Users, Registered Users 2 Posts: 1,900 ✭✭✭General General


    OP not had much success in life, huh?

    Looking for someone to blame?

    Awwwww....

    https://www.youtube.com/watch?v=iwu3D-Luo-E


  • #10
    shar01
    Registered Users, Registered Users 2 Posts: 817 ✭✭✭shar01


    Formula for lump sum:
    Salary x service x 3 / 80

    To qualify for full benefits, one must have 40 years service.

    Anyone who works in any job for 40 years deserves decent benefits.


  • #11
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    shar01 wrote: »
    Formula for lump sum:
    Salary x service x 3 / 80
    To qualify for full benefits, one must have 40 years service.
    Anyone who works in any job for 40 years deserves decent benefits.
    The way things are going, they will be lucky if they get their full pension!

    Anyways... The OP has a chip on his shoulder.

    I propose that we use the rest of this thread (before the lock) to play a game of "Guess where I hid the cucumber!" :pac:


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  • #12
    hondasam
    Closed Accounts Posts: 34,418 ✭✭✭✭hondasam


    Biggins wrote: »
    The way things are going, they will be lucky if they get their full pension!

    Anyways... The OP has a chip on his shoulder.

    I propose that we use the rest of this thread (before the lock) to play a game of "Guess where I hid the cucumber!" :pac:

    did you use lube ?:pac:

    lets bash Ps for awhile, It's fun


  • #13
    General General
    Registered Users, Registered Users 2 Posts: 1,900 ✭✭✭General General


    Biggins wrote: »
    The way things are going, they will be lucky if they get their full pension!

    Anyways... The OP has a chip on his shoulder.

    I propose that we use the rest of this thread (before the lock) to play a game of "Guess where I hid the cucumber!" :pac:

    Man... we all know where you ALWAYS hide the cucumber.


  • #14
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    General General wrote: »
    Man... we all know where you ALWAYS hide the cucumber.
    You've seen the pictures? :eek:
    Who grassed! :mad:


  • #15
    General General
    Registered Users, Registered Users 2 Posts: 1,900 ✭✭✭General General


    Biggins wrote: »
    You've seen the pictures? :eek:

    Yep... & the expression on Frada's face is priceless!


  • #16
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    General General wrote: »
    Yep... & the expression on Frada's face is priceless!
    :D

    LOL Very good! :pac:


  • #17
    almighty1
    Banned (with Prison Access) Posts: 1,183 ✭✭✭almighty1


    gigino wrote: »
    Retiring public servants get a lump sum gratuity payment of a year and a halves finishing salary , tax free, in addition to their normal pension of 50% of finishing salary.

    1. Those figures only apply if you have full service completed, which in most cases is between 30-40 years. e.g. not everybody can get those sort of figures you mention above.

    2. Do people realise that public servants contribute copious amounts of money to their pension. I pay €120 a week towards mine :rolleyes:
    €120 x 52weeks x 40years = €249600 contributed. :cool:

    3. Do people realise that public servants cant claim state pension either.


  • #18
    shar01
    Registered Users, Registered Users 2 Posts: 817 ✭✭✭shar01


    almighty1 wrote: »

    3. Do people realise that public servants cant claim state pension either.

    Those who pay A1 (full PRSI) can - their public service pension is reduced to take account of this.

    And don't forget the Public Service Pension Reduction that came in on 01/01/11.

    Retired public servants saw their pensions hit by PSPR, USC and reduced tax credits.


  • #19
    sollar
    Closed Accounts Posts: 2,007 ✭✭✭sollar


    Check out posts 259 and 267 below.

    http://www.boards.ie/vbulletin/showthread.php?t=2056263690&page=18

    gigino you need to cop on a bit.


  • #20
    suicide_circus
    Registered Users, Registered Users 2 Posts: 19,801 ✭✭✭✭suicide_circus


    In fairness none of these threads bash public servants, rather they bash some of the outrageous pay and conditions some public servants get, paid for by the tax payer. I think thats a fairly legitimate thing to discuss and complain about.


  • #21
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    suicide_circus wrote: »
    In fairness none of these threads bash public servants, rather they bash some of the outrageous pay and conditions some public servants get, paid for by the tax payer. I think thats a fairly legitimate thing to discuss and complain about.

    I agree and I think some public servants like myself would be willing to see some moderation / common sense in public finances, now that the IMF is here....if only for the sake of our grandchildren. I have relations who are private sector and I can see their point of view only too well when we discuss this issue.
    shar01 wrote: »
    To qualify for full benefits, one must have 40 years service.
    Not always. Most public servants yes, but Gardai can retire on full benefits with the gratuity after 30 years, and judges less still.


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  • #22
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    suicide_circus wrote: »
    In fairness none of these threads bash public servants, rather they bash some of the outrageous pay and conditions some public servants get, paid for by the tax payer. I think thats a fairly legitimate thing to discuss and complain about.
    The OP might have something to complain about if he bothered to state his case while stating in regard to what percentage of public servants have actually participated in the version of events he supposes.
    ...But no, he just throws this blank, unfounded, unproven, open aspersions upon all public servants.
    He does his own ramblings a dis-service and as such are open for justified retort and analytical breakdown, ending up with an opinion as to the quality of his post.

    Show us the proof about what your on about gigino, show us to whom exactly your vitriol is directed at and maybe you can be taken serious.
    Show us where you get your figures in regard to public servants, what ALL are getting to justify your accusation and the actual evidence for this blank tainting and aspersions of all else!
    Back your stuff up or get called out!


  • #23
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    Biggins wrote: »
    what percentage of public servants have actually participated
    All permanent public sector workers are entitled to the year and a halves salary ( i.e. 18 months ) gratuity on completion of service. If you finish on 200k salary, you get 300k gratuity. If you only finish on 47k salary as your salary when at retirement age ( which incidentally is the average salary across all age groups in the public service ) you only get 70.5k tax free gratuity.


  • #24
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    gigino wrote: »
    All permanent public sector workers are entitled to the year and a halves salary ( i.e. 18 months ) gratuity on completion of service. If you finish on 200k salary, you get 300k gratuity. If you only finish on 47k salary as your salary when at retirement age ( which incidentally is the average salary across all age groups in the public service ) you only get 70.5k tax free gratuity.
    So in other words, people are getting (in-spite of government finance interventions at times) what they are entitled to, have signed up for or been awarded as per their right by a state body!

    What exactly is your problem with that?


  • #25
    sollar
    Closed Accounts Posts: 2,007 ✭✭✭sollar


    gigino wrote: »
    I think some public servants like myself

    :D:D:D


  • #26
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    Biggins wrote: »
    people are getting (in-spite of government finance interventions at times) what they are entitled to,
    Exactly, people are entitled to , on average, the cost of 2 new apartments as a gratuity.

    People retiring now - eg a cop aged 50 - may not have thought when they joined in 1981 after leaving school they would get this when they retired , but thats the case now. Suddenly retiring public servants are multi-property landlords if they want to be. Yeah! Having a friend who recently spent their gratuity on an apartment for each child and a luxury holiday and new car for themselves, I was wondering What does the average public service retirement gratuity get spent on?
    • 2 apartments in Ireland
    • a weekend in Las Vegas
    • a golf villa in Portugal
    • helping the kids get on the housing ladder, or what ?


  • #27
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    gigino wrote: »
    exactly, people are entitled to , on average, the cost of 2 new apartments as a gratuity.
    Having a friend who recently spent their gratuity on an apartment for each child and a luxury holiday and new car for themselves, I was wondering What does the average public service retirement gratuity get spent on?
    • 2 apartments in Ireland
    • a weekend in Las Vegas
    • a golf villa in Portugal
    • helping the kids get on the housing ladder, or what ?
    Frankly, if a public servant wants to say what they do with their money thats their right - as it is of us to politely ask when justified.
    But you throw your question out there as if its something they should be held accountable for or there is an element of unfairness about it!

    If they have worked all those years and have build up that amount (despite multiple taxes/levies, etc over as many years), at the end of the day its really none of our business what they do with their private, hard earned money.
    End of story.


  • #28
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    Most of the money government is spending on pensions is coming from borrowed money, which the country is borrowing at high rates of interest.


  • #29
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    gigino wrote: »
    Most of the money government is spending on pensions is coming from borrowed money, which the country is borrowing at high rates of interest.
    Thats the fault of the government - why are you appearing to be very selective and picking on public servants and their hard earned entitlements?


  • #30
    sollar
    Closed Accounts Posts: 2,007 ✭✭✭sollar


    gigino wrote: »
    Exactly, people are entitled to , on average, the cost of 2 new apartments as a gratuity.

    Whats this obsession with buying two appartments. If i had 100K in the morning i wouldn't be spending it on 2 appartments.


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  • #31
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    sollar wrote: »
    Whats this obsession with buying two apartments? If I had 100K in the morning I wouldn't be spending it on 2 apartments.
    I suspect he's just using his "2 apartment" statement as a way to berate public servants in a derogatory way for some still unexplained personal reason!


This discussion has been closed.
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