Your take home pay is after deductions. A big one of these deductions is payroll tax with is based on the gross pay packet (base salary + benefits). If you remove some of the benefits and some of the base salary as is proposed by the Government’s offer then you should pay less payroll tax. This means one of the deductions coming out of your salary should decrease, giving you more take home pay then you currently have.

It appears, from the public information available in the deal, that Government is removing $16 of your $108 but still taxing you as if you are earning the $108 instead of $94.

People, there is an armada or Detail Devils in this offer. Be aware.

Ride

Taking from the pension purse is the proverbial “taking from Peter to pay Paul”…what happens to those already struggling seniors who currently benefit from the 16% that goes into the pension fund every month? no it may not hurt me (who is a current gov worker) right now, but I know that it will hurt my father who is a gov pension receiver!!!!!

There is no forward thinking with either PLP or OBA they both talk without discussing or considering the BIG and FUTURE PICTURE. What will happen 1, 5, 10, 20 or even 50 years from now??? yes in 50 years they will more likely have passed away and in 5 years they won;t be in the same positions they are in today, but as the heads of this country they NEED to put it all into consideration and perspective!!!!!

Fascinating.

There’s a myth that goes around Bermuda that all who work as civil servants get paid really good wages. I know this is not true. There are also many business owners & executives in the government & private sector in Bermuda who think they are the reincarnation of Marie Antoinette going through life with a, “Let them eat cake” attitude. They have learnt zilch from the downward spiral of the other top heavy international economic systems.

You mention the R word & ask when have we ever truly fought. We have in the 70′s & if unemployment reaches an additional thousand I truly believe we will again but hope it doesn’t. I know if it does happened unless these Marie Antoinette are wealthy enough to have a private jet ready all the off island homes they have purchased will not help them any. I suggest if the plan on going on with this way of life they build a secure underground bunker because in the 70′s we didn’t have gun toting gang members & now that we do in this type of situation they will reek havoc on the wealthy areas of Bermuda.

The results of less civil servants can already be seen in public transportation here. People who catch the bus have to deal with the inconsistency of the schedule & frequent breakdowns because bus mechanic layoffs. Also due to this children are getting to class an hour late which is causing further declines in Bermudian education. What we really need especially in the summer is more bus mechanics & drivers & busses that run every 15 minutes not every 30 minutes or every hour.

This what I hear when I listen to or read OBA members speeches potential lies candy coated with truths. This is worrying as I never voted PLP in the past & don’t want to at present but will have to sit on the fence as I don’t trust OBA either. If OBA put some action behind there words for the better of Bermuda regardless of them not being government I may trust them then. At the moment all OBA has produced is talk & more talk & keep milking it till the cows run dry.

To me, it appears a complete sham. A pyramid scheme (not surprising, given some of the people involved).

Cox says to the union – take an 8% ‘pay cut’ (wink wink) and at the same time we will let you stop making the 8% pension contribution. So you take home about the same.

Union asks: But Premier, won’t that affect our pension (wink wink)?

Cox: No, of course not. You’re on a defined benefit plan. It doesn’t matter if there’s nothing at all in the pension fund in 25 years. You get 2/3 of your final salary whether you make contributions or not. It’s all a sham to make it look like we’re doing something. Play along with us.

It’s a pyramid scheme. It doesn’t add up. It’s another way of making sure our children’s and grandchildren’s lives will be miserable when they pay for this mess.

Ive had a friend go to the hospital only to find out that his company had not been paying his Health Insurance for 6+ months. They were crossing their fingers hoping that nothing would happen while they tried to save money and nobody would find out. Now he is involved in a legal battle with this company to have them pay his hospital bill.

You can check to see if your social insurance contributions are up to date by checking on their website. All you ned to know is your social insurance number and date of birth.

What difference does your question make?!? This problem is of the Government’s making and its responsibility!

The PLP need someone a lot smarter than you to continue to pull the wool over my eyes. You are inadequate in this regard! But don’t worry, most of the PLP these days is also inadequate, you have company.

As for this cut in the Civil Service, they need to chop at the top but leave the little man in the C.S alone! The public picks on civil servants and takes out their anger with Gov’t on them. These are hard working men and women with rent and mortgages to pay and kids to feed. They have no say in how Gov’t spends its money so why so much venom directed towards them?

Not everyone in the C.S is a permanent secretary, you know. There are lots of ‘little people’ in clerical positions who work hard and after deductions aren’t bringing home that much. I don’t have kids on my insurance as my kids are grown, but I have a colleague who does and after all her deductions takes home just over $500 a week. After deductions I take home just over $800 a week which may sound like a lot to someone who is making way less, but after monthly expenses really is not. I can’t say when is the last time I’ve taken a trip or ate out. Meanwhile, the head honchos in my department are bringing home like $11,000 net a month. I know for a fact they’re living high on the hog. Some have spouses with high salaries working in the Civil Service as well. Those are the ones who can afford a cut in their salary. People like me and especially my fellow clerical staff with little kids can’t afford it.

Why should we suffer because this Gov’t went buck wild with the public purse? We lowly civil servants have NO say in this-we just stand by shaking our heads at the mismanagement as well. Paula and Co. messed up and then have the nerve to come after us? People honestly think that is right or fair? I can say that things are going to get really ugly at the rate we’re going-and I don’t just mean with the C.S. People are just frustrated and the one we should be turning to-the Government-is letting us down with their inept financial conduct. Things have never been this bad in Bermuda. The PLP needs to go and the OBA need to prove that they are sincere and have our best interests at heart. Even if they get in, the journey isn’t over and if they don’t deliver, what next? Can we afford rioting in the streets, Bermuda???

Your base salary is $100, $8 of this is “saved” into your pension. Your employer then provides a benefit of $8 to be “saved” to your pension as well. All in all you receive $108 (your base salary + the pension benefit). But now you are less $16 of your $108: 16/108 = %14.8 reduction in paid salary.

Vote yes if you like, but realise that you are taking a 14.8% hit – not an 8% hit – to your salary. Keep in mind that this will reduce your pension payout and that the cost of living is forever rising in Bermuda.

Not to mention that now is the time to increase your pension contribution. Now markets/stocks are relatively low. Your $16 will by you more shares in your pension accounts since the prices are lower. As markets rebound you will make more money since your pension bought low. If you stop buying now you’ll pay more for less shares in a years time; having missed the opportunity to buy low.

I would counter the Government offer with some solution that continues to contribute to your pension. Perhaps, let Government stop its 8% while you continue your 8% or Government 4% and you 4% or something like this.

Personally, I am increasing my pension contributions this year. Ideally, I should have done this a couple of years ago. Take the above as you will but keep it in mind.

Ride

Also, Mr. Furbert would never refer to the BIU Expecutive or the BPSU Executive as “Union Chiefs”.

get over yourself mate. its small minded thinkers like you that are contributing to the demise of our country. why dont the current government ministers take that same 10% pay cut and give it to charity, but, of course, they will not do this.

the PLP talks a lot but does very little

This is why the U.S. economy seems to rise & falls again. Obama talked a good game but when he was elected he didn’t have the huevos to get the big money makers to take a pay cut. Sure a few hedge fund executives took a dive for the majority but this was just a puppet show. In the end the majority of executives either got a pay freeze to the massive amount they made to begin with or pay just remained the same. At the bottom & middle is where one can see the pay cuts & lay offs in America. The same is happening here & it sounds great when OBA talks about PLP ministers cutting salary but then put your money where your mouth is unless your just blowing hot air. An example of government that has done this the right way is Canada & they’re recession free.

LOL

I think their plan has backfired and can’t figure out how to stop it – Well folks it is time to turn the key – talkign about slaves/bondage…. what are they doing to us – financial bondage, housing bondage, and the list goes on….

Turn the key – take the shackles off

Why can’t the Premier tell her peeps that they are going to receive a “Pay Freeze – effective this month immediately”…. freeze the salaries of PBSU/BIU. Like myself, you learn to adjust/sacrifice/do without and it is working, working very well…..

Why wait? The OBA MPs (if they were serious) could take a symbolic pay cut now.

They could donate 10% of their MP salary to charity. But, of course, they will not do this.

The OBA talks a lot, but does very little.