Outside the marginals

A commentary on the politics that followed the UK 2010, 2015 & 2017 elections (and THAT referendum)

Archive for the category “Pensions”

Pay up £571M or lose your knighthood

The above headline (from the Daily Mirror 25 July 2016) reflects the exasperation that many feel at the behaviour of Sir Philip Green – former boss of BHS.

But surely this is muddled thinking?

Read more…

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What about the Elephants?

This (2015 UK) General Election seems to consist of lots of minor and pretty irrelevant skirmishes. The major issues seem to be un-addressed in the election.

So what are these elephants in the room? Read more…

Bankers bonuses – history repeating itself

So Barclays results are not as good but their bonus pool is up.

The bank’s total bonus pool for 2013 rose by 10% to £2.38bn, from £2.17bn in 2012, with the investment bank’s bonus pool increasing by 13%.

The details come a day after Barclays released its full-year profit figures.

The bank’s statutory pre-tax profits for 2013 rose to £2.9bn, while adjusted pre-tax profits fell to £5.2bn.

Barclays said its profits were hit by restructuring the bank last year, including its withdrawal from certain lines of business, as well as legal costs.

Overall, the bank’s pay-to-income ratio rose to 43.2% from 40% in 2012, well above the bank’s mid-30s target.
BBC News Website 11 February 2014 Barclays to cut up to 12,000 jobs as aims to trim costs

How does this work? Read more…

Antisceptic re Demonisation of Benefit Claimants

I have not seen a refutation of these points made by Richard Godwin (Evening Standard 3 April 2013 IDS benefits from the lies about welfare) so let’s assume he is on roughly the right lines and apply a little healing balm to the current toxic debate about shirkers and scroungers.

He says Read more…

Impoverish the poor or soak the rich?

Suppose you want to raise £1M per week? How might you do it? I suspect the two sides of the coalition will have different views. Read more…

Public Sector Pensions

So the public sector workforce does not like the idea of having to contribute more to their pensions.

Tough.

  • Their pensions are guaranteed by the state – no chance of their schemes going bust
  • Their schemes are unlikely to be closed
  • Seven years ago my private sector pension increased contributions to maintain benefits
  • They have now closed the scheme
  • I have now been made redundant, so am no longer able to contribute to any scheme, so am not accruing any pension for when I am retired.

So stop moaning, pay up and be grateful.

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