Public service employment has grown by 31 per cent

[Remius]

I'm kind of happy with he idea of making it easier for the dead-weight pension prisoners to bail early, and leave room for the keen.

I'm not suggesting every person nearing retirement is dead weight, but the reality I have seen is that many in the last few years are just treading water to pad their pension/reduce the penalty.

Not my experience but there definitely are some like that. They won’t be taking this though (see below).

Making it easier for them to leave, while not crushing new hires is a better long term strategy than just slashing jobs, which inevitably are the lowest paid and highest productivity.

The problem is a that a lot of the ones that are slackers won’t take this. They are waiting for more WFA in the hopes of getting a better payout via TSMs.

 

[Remius]

I just hope it’s the dead-weight that takes the deal, and not the keen who can use this to supplement another, higher income somewhere else.

The dead weight types are waiting for TSMs and alternation. That 68k? I bet less than a third opt it.

 

[Halifax Tar]

The problem is a that a lot of the ones that are slackers won’t take this.

Its way to hard to shed dead weight. In the CAF and PS it seems.

 

[Remius]

Its way to hard to shed dead weight. In the CAF and PS it seems.

A lot of managers would love to be able to cut using dead weight parameters if they could.

Slackers will use their time to figure out their next move while the performers will be focused on trying to do their jobs and keep the lights on…and they will likely be the ones cut.

 

[daftandbarmy]

A lot of managers would love to be able to cut using dead weight parameters if they could.

Slackers will use their time to figure out their next move while the performers will be focused on trying to do their jobs and keep the lights on…and they will likely be the ones cut.

Too true... alot of downsizing programs result in the most capable jumping ship to greener grasses...

 

[mariomike]

Under the proposal, employees as young as 50 with at least 10 years of employment and at least two years of pensionable service would be eligible to apply.

If approved, they would be able to retire with an immediate pension based on years of service, with no penalty for leaving early.

Not familiar with their Retirement System.

Reads to me like at age 50, "two years of pensionable service" would get a 4% pension?

Hope I read that wrong.

 

[brihard]

Not familiar with their Retirement System.

Reads to me like at age 50, "two years of pensionable service" would get a 4% pension?

Hope I read that wrong.

No, you’re right. It’s not like those people would be particularly likely to retire. But the 53 year old with 23 years’ pensionable service who can now pop smoke with an immediate 46% pension and into some other job might, when previously the PS would have gotten another decade out of him or her.

 

[OldSolduer]

Its way to hard to shed dead weight. In the CAF and PS it seems.

Oh yes you’re right. Same with my former profession. It was near impossible to 5f a guard.

 

[Rifleman62]

.....into some other job....

What for profit private company not connected to a government would hire a person with x number of years Public service on their resume?

 

[daftandbarmy]

What for profit private company not connected to a government would hire a person with x number of years Public service on their resume?

We did

 

[Remius]

What for profit private company not connected to a government would hire a person with x number of years Public service on their resume?

A friend’s wife of mine is being courted by a company because of her expertise in SAP. ERI is icing on the cake for since she was leaving with a reduction to do it.

 

[Halifax Tar]

A friend’s wife of mine is being courted by a company because of her expertise in SAP. ERI is icing on the cake for since she was leaving with a reduction to do it.

I get constant messages on linked in because of my SAP experience.

 

[mariomike]

No, you’re right. It’s not like those people would be particularly likely to retire. But the 53 year old with 23 years’ pensionable service who can now pop smoke with an immediate 46% pension and into some other job might, when previously the PS would have gotten another decade out of him or her.

Funny how PS Retirement Systems work.

Prior to 2021, ours maxed-out at 35 years of Credited / Pensionable Service.

That was the day you "popped smoke".

Now, they can stay on and continue to accrue Credited Service until they drop dead.

Is there a 35-year cap in the Federal PS?

 

[brihard]

Funny how PS Retirement Systems work.

Prior to 2021, ours maxed-out at 35 years of Credited / Pensionable Service.

That was the day you "popped smoke".

Now, they can stay on till they drop dead.

Is there a 35-year cap in the Federal PS?

PS, CAF, and RCMP pensions all cap at 70% with 35 years. You can keep working but you stop paying most pension contributions and you stop accruing additional benefits. However you could still improve your ‘best five’ years of pay which your pension will be calculated off of.

 

[mariomike]

PS, CAF, and RCMP pensions all cap at 70% with 35 years. You can keep working but you stop paying most pension contributions and you stop accruing additional benefits. However you could still improve your ‘best five’ years of pay which your pension will be calculated off of.

Same as ours was.

After 2021, whole new ball game. Salute emoji.

 

[dapaterson]

PS, CAF, and RCMP pensions all cap at 70% with 35 years. You can keep working but you stop paying most pension contributions and you stop accruing additional benefits. However you could still improve your ‘best five’ years of pay which your pension will be calculated off of.

The 35 years maximum is across all three plans combined (excluding the Rest F plan for the CAF). So retiring from the CAF with a 30 year pension, then working for the PS for another 15 years, would only give a 5 year PS pension.

 

[SeaKingTacco]

The 35 years maximum is across all three plans combined (excluding the Rest F plan for the CAF). So retiring from the CAF with a 30 year pension, then working for the PS for another 15 years, would only give a 5 year PS pension.

True, but you would have been drawing on the 30 year CAF pension while working the PS job and you only be paying pension maintenance after 5 years of PS. If you were making even half reasonably informed investment decisions, you would be doing ok by the end of that run.