General   (General discussion, talk about anything.)

Whups

That’s what I’ve posted above.
My father was a member of the MPS with his benefits passing to my mother when he passed away.
I used to go through with them the annual report to members from the MPS. I can remember clearly the 1994 split.
When my mother turned 90 the MPS offered her approx. two and a half years payments to exit the scheme. I advised her to turn it down. Thankfully she did since she lived for another eight years.
To put some meat on the bone. The government( taxpayer) will have had £6 billion ish from the scheme as its 50%. 30% would have yielded £3.6 billion. Dividing the £2.4 billion difference by the number of pensioner and deferred members would have put circa £18000 per member back in the pot. The current benefit payout is 6% of the value of the fund which for a member with maximum no of years qualification would be an extra pension around £20/25 per week.