Tax Boss Retires With £107K-A-Year Pension.

[Khandro]

In case you were wondering where all that tax you pay goes;

'The chief executive of HM Revenue & Customs (HMRC) will retire with a six-figure pension despite presiding over the worst customer service levels on record, calculations suggest.

Sir Jim Harra stepped down from his role this month after almost six years in the top job, bringing an end to his 41-year career with the tax office.

Calculations for The Telegraph estimate he will exit the tax authority on a £107,000-a-year pension rising annually with inflation, along with a £278,000 tax-free lump sum.'

Is The UK the only country in the world that pays failure?

[wolf63]

No, they are paying a pension to a retired member of staff with over forty years of service.

 

[DDIL]

Expecting HMRC to do more with less staff, less office space and systems unfit for service!

At least 30 years service will be based on final salary pension as fir the lump sum I find it hard to believe its that much but if it is, it will be based on his years in service - 41 is a considerable amount.

[douglas9401]

He'll have seen a lot of tea and biscuits.

Worth every penny, now, how can we bolster this meagre sum? Let's cast around for a couple of directorships and two day a month 'jobs'.

[davebro3]

Presumably he will be paying back (nearly) half his pension in income tax. And he won't get winter fuel allowance!🤣

[Old_Geezer]

Those that are vastly overpaid in life often get ridiculously large pensions on retirement. It's 'who you know', and the group's power to believe they deserve to be vastiy better rewarded than others, that ensures it. Such is the present system in both private and public enterprises.

[DDIL]

Of course his £107,000 will not actually be that once you take tax off will bring it down to approx £75000

[Untitled]

if we don't pay tax authorities well then they are wide open to corruption. they are an essential service for the running of a modern state. 
 

i am far more concerned with the loopholes that allow american companies to pay tiny amounts of tax on the vast profits they extract from this country. but that is a matter of policy rather than enforcement.

[Khandro]

I'm amazed at how sanguine many on here are about these absurdly generous pensions.

'John O’Connell, of the TaxPayers’ Alliance campaign group, said: “The cost of public sector pensions to taxpayers is absolutely staggering, given they are still based on defined benefit schemes.

“These gold-plated pension pots have now largely died out in the private sector, yet public sector workers – including clearly underperforming ones – remarkably retain access to them.

“Ministers need to reform public sector pensions so they are based on fully-funded, defined contribution schemes that are fair to employees and taxpayers alike.”

Liz Emerson, of the Intergenerational Foundation think tank, said: “This is yet another intergenerational unfairness in action.

“Younger generations face a triple whammy by having to cover the cost of these over-generous pension promises via higher taxation, yet they are locked out of the same generous pensions and have to contribute more for less while retiring later.'

[Untitled]

the cost of public sector pensions is dwarfed by those who claim the full state pension and don't need it. nobody who does that has any right whatsoever to complain about the cost of pensions... or any other public spending for that matter. 

[douglas9401]

Still a cesspit of privilege then. Who knew?

[DDIL]

You are forgetting that 99% of the pensions are not like that!

The 'normal' grades do not get a fraction of that payout.

[douglas9401]

Actually they do get a fraction of those payouts.

[Khandro]

Untitled: /the cost of public sector pensions is dwarfed by those who claim the full state pension and don't need it. nobody who does that has any right whatsoever to complain about the cost of pensions... or any other public spending for that matter. /

So you are suggesting that the 'better off' have no right to address 'public spending' ?

Spoken like a true Marxist - Up the revolution!

[newmodarmy]

He may also have made some massive AVC contributions

 It's not unknown for people to pay say 80% of thir salary into AVCs as they approach retirement ( Ive paid 100%  of salary into my pension in the last 6 months!).

However I'm not sure why he seems to be exempt from the lifetime allowance cap.

[youngmafbog]

"the cost of public sector pensions is dwarfed by those who claim the full state pension and don't need it. "

 

Good God, do you honestly believe that?  Will you be handing yours over?

People have paid for that, many of us many times over.  It is NOT a benefit despite what the Government want to class it as.

 

[DDIL]

The civil servants have paid for it too, through their pension contributions and their taxes.

[Untitled]

i sincerely doubt that most people's contributions are equal to £12,000 a year in perpetuity with guaranteed 2.5% minimum increase (or more) every year. 

the cost of the state pension is absolutely gigantic... about £125 billion and rising. there are many people who take it and do not need it. it is an absolutely massive drain on public finances. 

i don't think that the full state pension will be anything like as lavish when i am of retirement age... if it still exists at all. the current generation of golden oldies are emptying the till and the model is unsustainable. 

[Khandro]

DDIL //The civil servants have paid for it too, through their pension contributions and their taxes.//

By 'it' do you mean the full amount that this one person can benefit from over the next say, 25 years ? 

Have you any idea what that might amount to ? 

 

[DDIL]

I meant the civil servants have paid for their own pensions.

The average grade pension is no where near that, my own pension for 30 years in £10,000 plus the lump sum.

All our pensions were changed about 13 years ago and we are no longer on the final salary pension.

[ToraToraTora]

gawd who woke up untitled? So untitled are you really not going to claim your state pension when the time comes?