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government pension schemes

Last post Tue, Dec 13 2011, 10:05 AM by carefulscot. 3 replies.
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  •  Tue, Dec 13 2011, 10:05 AM

    Re: government pension schemes

    Yes - generally speaking it is always better to be in your employer's pension scheme than not and public sector schemes (while far from being the gilt edged schemes the media would have us believe) are pretty sound. You would be hard pushed to find something with better benefits for your money elsewhere as you will only be using your part of the contribution - your employer contributes too.

    • Post Points: 5
  •  Mon, Nov 14 2011, 8:41 PM

    Re: government pension schemes

    Many thanks for that - thought as much but needed reassurance. thanks again
    • Post Points: 41
  •  Sat, Nov 12 2011, 3:07 PM

    Re: government pension schemes

    Yes, it certainly is worthwhile continuing to pay in this. It is a final salary scheme, what the media are too fond of calling agold plated scheme. I am a member of the Hampshire scheme. People in the private sector would kill to join something as good as this. Although government is trying to erode the benefits, remember that, in the current economic climate, if you are made redundant at age 55 (getting close), at 55 or over, you will be able to draw this pension immediately.

    Do not even think of leaving. Finally, the scheme have a statutory duty to issue annual statements of your pension entitlements. Send an email (don't do it verbally) to HR, and demand that they sort this out.

    • Post Points: 20
  •  Sat, Nov 12 2011, 10:32 AM

    government pension schemes

    I have worked for Waltham Forest borough for 13 years and have paid into the LGPS pension for that time. Although I have asked I do not receive statements regarding my pension. It takes a lot out of my salary and with all the concerns regarding pensions, is it still worthwhile continuing contributing towards this ? I am 53.

    • Post Points: 35