They sure do, and they still would even if the scheme didn't exist or was different, hence my reference to the MARGINAL cost - but since you've admitted you were only being a smart This post will be deleted if not edited to remove bad language referring to it we may travel no further down this particular cul de sac...
Yes, the cost of framing, administering and enforcing our tax code is marginal. As is the profit margin of a life company in writing an annuity. I certainly agree that there is no need to travel any further down this particular cul de sac.
Yes, from €352 - €500, it's .9%. Over €500, it's .9% of first €1,443, 4% on balance.Can somebody clarify for me how much PRSI a pre 95er pays on €48k, would i be right in thinking its .9% ??
So if there was no DB PS pension scheme, there would be no cost of framing, administering and enforcing our tax code - I'm intrigued to hear how you stand that up...??
Yes, from €352 - €500, it's .9%. Over €500, it's .9% of first €1,443, 4% on balance.
No it's not. The cost of providing a pension is comparable to establishing a sinking fund, not to purchasing an annuity.Yes, the State doesn't buy annuities - I have already acknowledged that fact repeatedly.
However, the cost of a purchasing an annuity is a very good proxy for the cost of providing a State pension.
Admittedly it's an imperfect proxy - primarily because the benefits provided by State pensions can be expected to outstrip annuity payments that escalate in line with inflation. In other words, the cost to the taxpayer in providing a pension will almost certainly be higher than the cost of an annuity that simply escalates in line with inflation.
From €352 - €1443 per week, it's .9%. Over €1443 pw it's 4%.So a person earning €48k only pays .9% in total or is it .9 on the first €500 and 4% on the next €432 ??
Is the first €1,443 per week or year ?
http://www.telegraph.co.uk/finance/...w-annuity-firms-clean-up-at-your-expense.html
"Only one company, Standard Life, actually discloses its profit margins on annuities. We asked other insurers to follow suit but none would do so. Standard Life made a margin of 18.6pc on annuities in 2011."
No it's not. The cost of providing a pension is comparable to establishing a sinking fund, not to purchasing an annuity.
Also, on what planet are you living?
Triple boost for thousands of public sector pensioners
(...)
The increases will see some retired public sector workers getting an annual increase in their income of €1,000.
The big gains for retired nurses, civil servants and teachers will come from a further unwinding of cuts to their pensions in the austerity budgets. They are set to get around €500 restored to their pension payments from the start of next year.
(...)
What is the actual cost to the state for the average €24,000 pension? Is it anywhere near €1.5m ?
It's €24,000 per year. I'm wondering what the total cost of the average Civil Service pension is to the State i.e. the total paid to the person receiving the pension.Is it not €24K, or is it a trick question ??
It's €24,000 per year. I'm wondering what the total cost of the average Civil Service pension is to the State i.e. the total paid to the person receiving the pension.
Or are you looking for an actuarial projection as to what the pension will cost the State, making certain reasonable assumptions?
For ease of caculation starting and ending pay is €48k and 40 years service
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