This Volume at a Glance – Pension News:

• Commutation Factors Compensation & GAD;

• TPR – Fighting Talk;

• The £8mil Woollie Blunder ? – 'Workie'.

Mr. Martin Clarke the Government Actuary appointed in late 2014 with an annual salary of £138,000pa. Presumably when his time comes for green pastures he will get his own Commutation Tables correct?

By now most of the affected UK's FSVs should have received a communication along the following lines from their Scheme manager in respect of the above…if you have not then pursue them for an answer.

'Thank you for your recent enquiry regarding the revised Commutation Factors for those who retired in receipt of a pension from the 1992 scheme between 1st December 2001 and 21st August 2006 inclusive.

The final version of the calculator has been released by GAD. We are currently working through the Guidance that have been issued in order for us to calculate the payments due to members who’s pension became payable between the above dates.

We have been instructed by GAD that completed calculation results should be sent to them before any payments are made so they can check that different computer systems do not alter the calculations functionality. Also they have informed us that there will be a need for individuals to sign a discharge before payment can be made which GAD will be providing further advice on in due course.

Unfortunately we are still not in a position to supply you with any figures or any time frame when payments will be made.

We are sorry we cannot be of any further assistance at present…'

It seems as though at this point in time that they may all get themselves 'organised' enough to have it finished by the end of this financial year, namely, April 2016 though it might be wise to neither hold ones breath nor to spend the anticipated recompense for their incompetence on a summer holiday…

There is the unaddressed question of 8% Compound Interest on monies due from the Fire Authorities/GAD not contained in these statements who have collectively enriched themselves off the back of their and GAD's monumental mistake.

Failure to expedite these payments will simply erode any sense of tolerance and result in the next push which is to be compensated correctly by addressing the thorny issue of the proper Interest rate on back pay which the Bugler has already dealt with in law earlier…

Clearly GAD(read government) are poor losers and have taken their bat and ball home and will once more procrastinate in payments.

It should be clearly noted that in guarding against the 'discovery' of even more mistakes it seems they will wish to tie FSVs up with a final 'discharge' document requiring a signature which will state that if more mistakes are found then those who have already been paid out will be unable to follow a fresh claim for legal redress of monies due.

FSVs would be well advised to pursue these two issues through their representative bodies BEFORE signing a single piece of GAD/Fire Authority  paper…

The Pensions Regulator in the form of Ms. Lesley Titcomb has finally come out of her corner swinging with some commendable down to earth fighting talk.

It must be said that this is very encouraging and not likely to make her ‘popular’ with the pensions financial sector. But she was not put there to be popular she was put there to safeguard our pension Scheme amongst many others.

It is to be hoped that she will be rather liberal with her dainty but deadly size 6,s  because outside  in the real world there are plenty of rogues and layabouts like Clerk Warren well deserving of a good kicking… This is what she had to say for herself. Go Here.

Well, what is there to say that has not already been said by the baying mob from the tabloids but whatever way you look at this it costs £8mil at a time of imposed ‘austerity’ for a ‘creature’ that could have been stitched up in a sweat shop somewhere 'for a couple of quid mate' .

But of course this would ignore the publicity boys and girls with their fat fists in the honey pot for all the graffiti that they will litter the countryside with in the months ahead.

However, though it may not directly affect Firefighters and their current pension schemes it carries the message to the members of their families that they should get themselves in a pension scheme early in their working lives; learn how it is supposed to work; and regularly ‘police’ those who are supposed to be looking after their personal investment of a life time, secondly only to having a permanent home whether morgaged or not.

If it is operationally a little boring in the wee small hours and the need is to bumble the lower lip .Go Here. or if you are in a desperate hurry for this thrill ? Go here.The dog actor was good though…