Plumbing council pension

[tomsim]

They also mentioned the possibility of working in the office if wanted to get off the tools

 

[tomsim]

Trying to figure out if I'm committing career suciedo giving my gas up going from new build installs. To fitting bathrooms and kitchens for the council. Or whether I could build a good career there. I probably wouldn't want to stay on the bathroom side long term

 

[Dereekoo]

Nope council pensions are now 1/49 so even better

to a max of what?

 

[gas112]

to a max of what?

?? It's based on final salary

 

[hllns]

If you opt out of LGPS you lose the employer's contribution as well, it's not just your contribution

Also, final salary was reformed away many years ago, my LGPS pension from working in education is now essentially two "chunks", pre-reform final salary scheme "chunk" and career average "chunk".

 

[Dereekoo]

?? It's based on final salary

In my example max was 40 60ths i.e. 2/3rds of final salary.

What is the max 49ths can can be earned in council pensions

 

[gas112]

If you opt out of LGPS you lose the employer's contribution as well, it's not just your contribution

Also, final salary was reformed away many years ago, my LGPS pension from working in education is now essentially two "chunks", pre-reform final salary scheme "chunk" and career average "chunk".

Yep council's 12% is not into your pot as such like a standard company pension but into another pot to guarantee your final benefits

 

[gas112]

In my example max was 40 60ths i.e. 2/3rds of final salary.

What is the max 49ths can can be earned in council pensions

Have a look on lgps it's all explained 1/49th is far better than1/60th

 

[tomsim]

Yes it's 1/49th

 

[Dereekoo]

Have a look on lgps it's all explained 1/49th is far better than1/60th

Thanks, as I am lucky enough to be already drawing my 40/60th defined benefit water pension I'll pass on that and leave the souls with defined contribution pensions to calculate how much in real terms their final pension pot is going to be and whether they take a lump sum, partial lump sum, annuity or drawdown etc. etc.

 

[tomsim]

Even though the salary maybe less there is quiet a few perks

 

[carmanmemoranda]

take into account the type of property and tenants you will be working at. Couple guys I know say the job is ok, but the conditions can be "challenging". Some houses, they won't go to on their own.

 

[tomsim]

What do they do for the council?

 

[tomsim]

I was looking into the pension if it's a 12% on a 32k wage that's around 300 a month Vs my current employer paying in 80 a month people's pension

 

[tomsim]

A difference of about 2500 a year