Current and past employees of the Isle of Wight Council and affiliated Island bodies are buoyant following the advice that the latest estimated value of the Isle of Wight Pension Fund has risen to more than £750,000,000 — enough to cover 136% of the fund’s liabilities. Following the Fund’s return to positive territory, the further increase in value and funding ratio represents a strong resilient base. Councillor Chris Jarman, chair of the Pension Fund Committee for the past 3 years, said the Fund’s 18,000 members could take comfort that it was being well managed. He said:
“As Trustees of the substantial fund, we are acutely aware of our duty to the many beneficiaries of the fund and their dependents, “Continued attention to detail by our excellent team of skilled officers, our Pension Fund Committee and our Pension Fund Board, continues to ensure successful and prudent management of our members’ investments. “Investments made by the fund are always subject to the dynamic changes in the financial markets, to global economics and to shifting political influences. Obtaining the correct balance of those inherent risks and opportunities is essential. It relies on obtaining the best advice possible, sound judgement and maintaining agility and resilience within the Fund to guard against economic shocks.”
The Fund was 102% funded at the last formal valuation in March 2022. Current employees and retired members will receive their benefits under any circumstances. If the scheme did not remain fully funded then the employer contributions may need to rise. More information can be found on the Isle of Wight Pension Fund website: www.isleofwightpensionfund.org/about-the-scheme/about-the-pension-fund/.
The incoming Labour government will place windfall taxes on any large company that’s making profits , with full support from the dimbos , thinking it doesn’t effect them, but seeing profits as immoral makes everyone poorer in the end.
First year or so will seem like they are doing fine, as they are spending the money they have taken from businesses.
But once spent, the companies cut back spending and massive unemployment, rioting in inner cities and increased poverty will hit even more people much harder .
Wait watch and learn
What a cushy job it is working for Councils.
High Salaries, High Pensions and great UNLIMITED Sick pay
and what do they actually do?, Fcuk all.
It’s no wonder the country is in a mess.
IW has one of the most expensive Council taxes in the country.
IW charges the most expensive Green waste charges in the country.
Also many of the islands Toilets, especially in Sandown charge people
50p to have a P I S S
Sack half of them, not needed. A.I Can replace the majority of them.
All paid for by us the council tax payers.Cushy jobs backed up by a nice pension. Don’t complain when your council tax goes up this is just one way it is syphoned by the councillors and council employees.
So glad our council tax is helping make your pension pot worthwhile.!!!!!!!
Don’t worry I am sure none of us mind you cutting services, whinging about debt ,previous councillors etc etc….
As long as we are making sure when you retire you can enjoy your old age …..
A round of applause to all us cash cow’s whoop , we are blessed to support you scrounging numptys !!!!!????…..
My pension post is about 75p!
That stinks of corruption and underhanded theft.
Notice how the councillors pension pot is nice and safe? No moving of the goal posts just as they are about to claim it, of ripped of form getting it by the next shit show that gets in , in taxes, like ours that’s been taxed 3 times in some way or another