{"id":61432,"date":"2017-07-22T00:14:02","date_gmt":"2017-07-21T17:14:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-government-has-got-it-wrong-on-pensions-letters\/"},"modified":"2017-07-22T00:19:12","modified_gmt":"2017-07-21T17:19:12","slug":"the-government-has-got-it-wrong-on-pensions-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-government-has-got-it-wrong-on-pensions-letters\/","title":{"rendered":"The government has got it wrong on pensions | Letters"},"content":{"rendered":"<p>&#013;<br \/>\nReaders discuss Philip Hammond\u2019s claim that public sector pensions are generous and the decision to bring forward the raising of the state pension ageThe chancellor of the exchequer recently pointed out that public sector pay was superior to private sector pay because of the occupational pension accruing to long-time public sector workers (Chancellor urges restraint on public sector pay, 17 July). However, when it comes to overall pension payments (occupational plus state pensions) most seasoned public sector workers coming up to retirement will note that their state pension is considerably less than that of private sector workers because public sector workers were opted out of the state earnings-related pension and graduated pension schemes. So was he being wicked or stupid when he made the pronouncement? Needless to say, most contemporary public pension schemes have been reduced to rubble over the last few years, giving them little or no advantage over private sector schemes. And the chances of pension-accruing long-term employment in the public sector are hugely reduced due to changes in contractual status and patterns of working.I don\u2019t know whether ministerial pensions for ex-ministers who are already extremely wealthy have been reduced, but I somehow doubt it.Nicholas WhitmoreNewcastle upon Tyne Continue reading&#8230;&#013;<br \/>\n&#013;<br \/>\nSource : theguardian.com&#013;<br \/>\nRead more&#8230;<a href=\"https:\/\/www.theguardian.com\/money\/2017\/jul\/21\/the-government-has-got-it-wrong-on-pensions\" target=\"_blank\">The government has got it wrong on pensions | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#013; Readers discuss Philip Hammond\u2019s claim that public sector pensions are generous and the decision to&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-61432","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fYQ","jetpack-related-posts":[{"id":29167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-a-bargain-state-pension-deal-put-in-700-get-5000-out\/","url_meta":{"origin":61432,"position":0},"title":"It\u2019s a bargain state pension deal: put in \u00a3700, get \u00a35,000 out","date":"October 8, 2016","format":false,"excerpt":"\r Around half a million public sector workers can massively boost their state pensions. Here\u2019s howPut \u00a3700 in and get \u00a35,000 out. That\u2019s the deal potentially on offer to thousands of current and former public sector workers who can top up their state pension at \u201cbargain basement\u201d rates, according to\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22899,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pensions-overhaul-could-hit-public-sector-workers-hardest\/","url_meta":{"origin":61432,"position":1},"title":"Pensions overhaul could hit public sector workers hardest","date":"January 15, 2013","format":false,"excerpt":"\r Seven million workers would have to increase their national insurance contributions by 1.4% of their incomeA radical overhaul of the state pension designed to help low earners and women has been unveiled \u2013 but the cost would be higher payments by nearly 7 million employees, and by schools, hospitals\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10094,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/public-sector-professionals-under-threat-from-pension-tax-relief-changes\/","url_meta":{"origin":61432,"position":2},"title":"Public sector professionals under threat from pension tax relief changes","date":"November 7, 2015","format":false,"excerpt":"\r The chancellor\u2019s autumn statement could lead to the slashing of pension tax relief, while in April new rules will hit higher earners such as dentists and doctorsPublic sector professionals such as doctors, senior civil servants and university professors in line for pensions worth more than \u00a343,000 a year face\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13586,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-englands-chief-economist-calls-for-more-simple-pension-system\/","url_meta":{"origin":61432,"position":3},"title":"Bank of England&#039;s chief economist calls for more simple pension system","date":"May 19, 2016","format":false,"excerpt":"\r Andrew Haldane says workers have little chance of making sense of funds when financial experts \u2018have no clue either\u2019Over-complex pensions are harming the UK economy and reinforcing mistrust of the financial sector, the Bank of England\u2019s chief economist has warned, as he admitted even he was unable to make\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18414,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lets-make-retirement-great-again-by-bringing-back-a-pension-system\/","url_meta":{"origin":61432,"position":4},"title":"Let&#039;s make retirement great again \u2013 by bringing back a pension system","date":"July 3, 2016","format":false,"excerpt":"\r As Americans look to build their future on 401k plans, they find themselves perched atop nest eggs that are far too smallHere\u2019s a thought about how to make America great again: bring back pensions. If Donald Trump really is intent on turning back the clock to the glory days\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5382,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pension-shakeup-in-budget-leaves-14bn-annuities-industry-reeling\/","url_meta":{"origin":61432,"position":5},"title":"Pension shakeup in budget leaves \u00a314bn annuities industry reeling","date":"March 21, 2014","format":false,"excerpt":"\r \u2022 Fears retirees will splurge cash or leave it to languish\u2022 Shares plunge as sector is forecast to contract hugelyThe dramatic liberalisation of Britain's pension system unveiled in the budget is likely to pump up house prices, spark a bonanza for estate agents, car dealers and cruise ship operators\u2026","rel":"","context":"In &quot;Property News&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61432"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=61432"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61432\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=61432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=61432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=61432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}