RE: Started feeding back in3 Jun 2026 14:25
Capita took on a dodgy data base which needed fixing, plus a neglected backlog 2.3 times larger than expected!
The US 401k pension (Stock market linked) is the least complex and fairest because benefits are simply the value of the investments in one's account. No complex calculations are needed to determine a future pension entitlement, focusing on contributions, investments, compliance testing, and distribution. They are not ringfenced in favour of public servants like ours, that rise with inflation no matter if the economy grows or not. It's quite possible to have a lot better standard of living on retirement than your actual pay grade while still at work.
For instance it's possible for police officers to retire in their 40s or 50s due to stress-related health issues, become a PI, bodyguards, bouncers etc.
Nice work if you can get it! So everyone tries to squeeze the last ounce, by never being happy and asking for reassessment after reassessment.
With all benefits there's bound to be percentage of miscalculated or hardship cases! Which has been addressed with tax free loans. Capita has pledged to get it down to acceptable levels!