Protected Pay

[StickyFingers]

Supposed to be some word of it being continued (Or not) after 2019 for the un-promoteable among us during April.

It's May now.

Anyone know anything?

 

[StickyFingers]

Can't believe we were told duff info.

Totally and completely flabbergasted.

 

[unruly1986]

Expect the worst and anything else is a bonus...

Most experienced Cpls in what were 'high pay band' trades must surely be affected?

 

[techie_tubby]

Not just Cpls. Estimated that almost 15% of the SACs in TG4 are in this protected pay bubble.


Sent from my iPhone using Tapatalk

 

[4everAD]

I know the TG4 Trade Advisor is unsurprisingly taking a keen interest in this (sure I read somewhere that some 30% of TG4 are on 'protected pay'). I have asked him for an update, this is one of those things the top brass need to get right as qite a few will jump ship rather than take a pay cut and the related drop in pension it will cause.

 

[StickyFingers]

Top level pay level lads on the 75 pension.

"Lets mess them around so much they leave, then we won't have to pay them their pension"

That £2K a year pay cut? They'll get it back after 1,2,3,4,5, whatever years, then it's all profit.

Just gotta get your head down for a few years.

Plus I guess a lot of guys will go off with stress due to money worries.

Management....

 

[E E E E E E E E AR]

That £2K a year pay cut? They'll get it back after 1,2,3,4,5, whatever years, then it's all profit.

Just gotta get your head down for a few years.

Would be genuinely interested to see the maths on this. In my (maths-biff) head, it will have a massive impact;

Working on last year's figures.

Top level Cpl higher pay band will currently be held on £34,681 (or there abouts). Supp 2 equivalent is £32,633. £2048 drop.

If the 1% (big if) pay rises continue it would take 6 years to get back to just under that amount, 7 years to get above it. (2% would be 3 and 4 years).

In the meantime you have lost out on over £5,000 worth of pension contributions (because AFPS15 is career average). The impact of this is different for each person.


On top of that, can't imagine losing ~£170 a month when all other costs are rising. Awful.

(As an aside, an apology has been issued because SFA prices have been bumped up again this year, without letters being sent out to the occupants to tell them by how much. So that rise was a nice surprise.)

 

[StickyFingers]

I just did super basic maths.

£2k-ish pay loss a year, 4 years left to serve loss of £8k

1 years pension £8k-ish, loss made back in a year, year 2 start making money on it, money you wouldn't be getting from a pension if you bang out early due to the, in my opinion, tactics used by senior management to make 75 pension future recipients leave before their 22 year point.

I didn't factor in pay rises, final salary all that.

You made a really good point though.

 

[E E E E E E E E AR]

£2k-ish pay loss a year, 4 years left to serve loss of £8k

1 years pension £8k-ish, loss made back in a year, year 2 start making money on it, money you wouldn't be getting from a pension if you bang out early...

Aaaah, got you! Fair one!

 

[StickyFingers]

Yea, just gotta push on through.

There's a light at the end of the tunnel.

 

[Witty_Banter]

That light can't approach fast enough. Am I the only person with the Pension Calculator in their favourites list? lol

 

[StickyFingers]

P in my browser predicts pension calculator before PornHub.

Figures eh?

 

[MattBombHead]

That light can't approach fast enough. Am I the only person with the Pension Calculator in their favourites list? lol

No you're not...

What started as a 'jokey' countdown of 1374 days to do (a couple of years ago) is now a deadly serious daily updating of the chuff chart...

 

[rocket scientist]

Am I the only person with the Pension Calculator in their favourites list? lol

I'm a regular on that as well - I've got a cracking spreadsheet estimating pension & mortgage for each year until I leave, just to work out what I'd have to earn if I leave early.

I'm just waiting for the calculator to update, should be any day now....

 

[Dan_Brown]

Any chance you can share the spreadsheet? Sounds a useful tool to have for some of us!

 

[rocket scientist]

Any chance you can share the spreadsheet? Sounds a useful tool to have for some of us!

I can do with all the figures taken out but it'd be pretty useless as it's tailored to me. I've tried to attach it as a file but it says my .XLSX file is invalid - any ideas?

All I've done is go on the calculator and work out what my EDP & annual pension will be if I leave each April until 2022. Then I've worked out what my estimated mortgage will be for the same column. Then underneath that in each column I've decided how much mortgage I want to pay off and worked out a rough figure for monthly payments and from this I've worked out what I NEED to live on each month. From that I've estimated what I'd have to earn, taking in to account my monthly pension and so on....

It was a bit of work at first and it makes a lot of assumptions but it gives me an idea of when I can afford to leave the RAF.

 

[Dan_Brown]

No problem - thanks for trying.

 

[4everAD]

According to AO A6 the decision on pay protection has been delayed by 12 months. The cynic in me would say that delaying the decision as long as possible is to prevent a mass exodus of personnel (if only by 12 months). Further to my last posts he confirmed that 78% of tg4 are on pay protection!

 

[FOMz]

No problem - thanks for trying.

You know you can add an on-line ChuffChart to your signature block on here?

Go to this website and create a countdown to event ticker (it's down the bottom of the homepage somewhere), follow the instructions then add the code it makes into your signature block through your user CP.

https://www.tickerfactory.com/ezticker/ticker_designer.php

A few goatees have got them on their profiles.

 

[Dan_Brown]

You know you can add an on-line ChuffChart to your signature block on here?

Go to this website and create a countdown to event ticker (it's down the bottom of the homepage somewhere), follow the instructions then add the code it makes into your signature block through your user CP.

https://www.tickerfactory.com/ezticker/ticker_designer.php

A few goatees have got them on their profiles.

I'm done in 2024 - the ticker doesn't go that far ahead

I liked RS spreadsheet idea that it estimated pension & mortgage for each year until he leaves - that would be nice to see visually. I'll knock one up myself, but ta anyway.