Follow @PoliticsIE
 
 
 
Page 1 of 19 1234511 ... LastLast
Results 1 to 10 of 184

Thread: Public sector pension timebomb looms

  1. #1

    Default Public sector pension timebomb looms

    Given we have an ageing population and many young are now emigrating the public sector pensions have become unsustainable and unjustified. Eddie Hobbs was shouted down on "the Frontline" for mentioning the 100billion already accrued for future public sector pension and with the massive recruitment into PS over past decade this figure will rise much much higher before its peak. The new fat cats of Ireland might find their gold plated pension cant be paid in years to come. I know as a young non PS worker i am not hanging around here to pay massive taxes to keep them on bubble era pay and pensions.

    . . . and its pension costs - The Irish Times - Mon, Jan 11, 2010

  2. #2
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    The old fogies that brought us to economic armageddon will get massive pension lump sums with an extra few weeks thrown in for good measure

    They should in fact be means tested until the exchequer deficit is cleared.

    The social welfare old age pension will be targeted first.

  3. #3
    Politics.ie Newbie
    Join Date
    Nov 2008
    Location
    Bandon
    Posts
    66
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by hammer View Post
    The old fogies that brought us to economic armageddon will get massive pension lump sums with an extra few weeks thrown in for good measure

    They should in fact be means tested until the exchequer deficit is cleared.

    The social welfare old age pension will be targeted first.
    I thought we had a pensions fund set up to cover PS and old age pensions?? I have been personally aware of the possible "pension crisis" for the last 14 years. We should surely have a few bob in the fund by now?
    "In our age there is no such thing as 'keeping out of politics.' All issues are political issues, and politics itself is a mass of lies, evasions, folly, hatred and schizophrenia."
    George Orwell

  4. #4
    Politics.ie Member
    Join Date
    May 2007
    Posts
    10,175
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by politicaldonations View Post
    Given we have an ageing population and many young are now emigrating the public sector pensions have become unsustainable and unjustified. Eddie Hobbs was shouted down on "the Frontline" for mentioning the 100billion already accrued for future public sector pension and with the massive recruitment into PS over past decade this figure will rise much much higher before its peak. The new fat cats of Ireland might find their gold plated pension cant be paid in years to come. I know as a young non PS worker i am not hanging around here to pay massive taxes to keep them on bubble era pay and pensions.

    . . . and its pension costs - The Irish Times - Mon, Jan 11, 2010
    Just another inaccurate media attack on the PS. Facts out the window because they don't suit the bias.

    If PS pensions are so ruinously expensive there's nothing preventing the government from allowing staff to opt out of the scheme. Ever ask yourself why it doesn't?

  5. #5
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    Quote Originally Posted by HughinBandon View Post
    I thought we had a pensions fund set up to cover PS and old age pensions?? I have been personally aware of the possible "pension crisis" for the last 14 years. We should surely have a few bob in the fund by now?
    NPRF - last valuation was 22 billion including the 7 billion "investment" in AIB/BOI.
    The fear is that a further investment will come from this fund to bail out the FF developer banks Anglo ( 5b ) and Johnny Fingers BS ( 2b )

  6. #6
    Politics.ie Member Dreaded_Estate's Avatar
    Join Date
    Sep 2007
    Posts
    3,695
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Baron von Biffo View Post
    Just another inaccurate media attack on the PS. Facts out the window because they don't suit the bias.

    If PS pensions are so ruinously expensive there's nothing preventing the government from allowing staff to opt out of the scheme. Ever ask yourself why it doesn't?
    Are you disputing that the liability for public sector pensions is around 100bn?

  7. #7
    Politics.ie Member
    Join Date
    May 2009
    Location
    heart of Europe
    Posts
    5,897
    Mentioned
    0 Post(s)

    Default

    Don't worry.

    With all the profit NAMA is going to make, there will be more than enough cash!!
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

  8. #8
    Politics.ie Member
    Join Date
    May 2009
    Location
    heart of Europe
    Posts
    5,897
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Baron von Biffo View Post

    If PS pensions are so ruinously expensive there's nothing preventing the government from allowing staff to opt out of the scheme. Ever ask yourself why it doesn't?
    Staff cannot opt out because their contributions are used to pay the pensions of retired workers.

    When today's staff have retired, there will not be enough workers to pay their pensions, so the NPRF should step in. Of course, the NPRF will all be gone to the banks at that stage.
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

  9. #9
    Politics.ie Newbie
    Join Date
    Nov 2008
    Location
    Bandon
    Posts
    66
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by hammer View Post
    NPRF - last valuation was 22 billion including the 7 billion "investment" in AIB/BOI.
    The fear is that a further investment will come from this fund to bail out the FF developer banks Anglo ( 5b ) and Johnny Fingers BS ( 2b )
    Not nearly enough I'd say. Who the hell had the pension fund in their portfolio. I hope he or she isn't expecting a pension based on that level of competence.
    "In our age there is no such thing as 'keeping out of politics.' All issues are political issues, and politics itself is a mass of lies, evasions, folly, hatred and schizophrenia."
    George Orwell

  10. #10
    Politics.ie Member
    Join Date
    May 2007
    Posts
    10,175
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by DCon View Post
    Staff cannot opt out because their contributions are used to pay the pensions of retired workers.
    In other words it's a staff funded scheme.

Page 1 of 19 1234511 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •