NHS Pension

[blue44]

Putting my forms in on friday for this,I can't afford the contribution rate anymore ( 8.3 % ) .
I have 14.5 years on the old 1995 section and I will also be claiming early the three years I have on the 2015 pension scheme.
I'm 60 in feb and will get 100% of my 1995 pension,starting april 1 st 2025,but I think around 69% of my 2015 one.
Won't be much,around £6000 per year combined ,but with a £15,000 lump sum for the 1995 pension.

Hope I'm doing the right thing but I have no choice alas.

 

[mexico1970]

Putting my forms in on friday for this,I can't afford the contribution rate anymore ( 8.3 % ) .
I have 14.5 years on the old 1995 section and I will also be claiming early the three years I have on the 2015 pension scheme.
I'm 60 in feb and will get 100% of my 1995 pension,starting april 1 st 2025,but I think around 69% of my 2015 one.
Won't be much,around £6000 per year combined ,but with a £15,000 lump sum for the 1995 pension.

That's your season ticket for next year sorted, just!

 

[kaz7]

Putting my forms in on friday for this,I can't afford the contribution rate anymore ( 8.3 % ) .
I have 14.5 years on the old 1995 section and I will also be claiming early the three years I have on the 2015 pension scheme.
I'm 60 in feb and will get 100% of my 1995 pension,starting april 1 st 2025,but I think around 69% of my 2015 one.
Won't be much,around £6000 per year combined ,but with a £15,000 lump sum for the 1995 pension.

Hope I'm doing the right thing but I have no choice alas.

I think you prove that nhs pensions are not gold plated

I remember you worked through covid so thank you for that

 

[Lavinda Past]

That's your season ticket for next year sorted, just!

A season in the Tunnel Club...

 

[stan bowles]

Putting my forms in on friday for this,I can't afford the contribution rate anymore ( 8.3 % ) .
I have 14.5 years on the old 1995 section and I will also be claiming early the three years I have on the 2015 pension scheme.
I'm 60 in feb and will get 100% of my 1995 pension,starting april 1 st 2025,but I think around 69% of my 2015 one.
Won't be much,around £6000 per year combined ,but with a £15,000 lump sum for the 1995 pension.

Hope I'm doing the right thing but I have no choice alas.

At least the lump sum is tax-free. You can convert some of the pension into a bigger lump sum too, if it's right for you.

 

[blue44]

At least the lump sum is tax-free. You can convert some of the pension into a bigger lump sum too, if it's right for you.

Yeah,i looked into selling some of it back,in the 1995 pension they buy back £1 and give you £12,up to about
a quarter max of your pension total.
Its the death in service I'm a bit worried about,the mrs would get 2 X my salary lump sum if the worst happened to me,if i come out of the pension she wouldn't get that,obviously.

 

[blue b4 the moon]

Putting my forms in on friday for this,I can't afford the contribution rate anymore ( 8.3 % ) .
I have 14.5 years on the old 1995 section and I will also be claiming early the three years I have on the 2015 pension scheme.
I'm 60 in feb and will get 100% of my 1995 pension,starting april 1 st 2025,but I think around 69% of my 2015 one.
Won't be much,around £6000 per year combined ,but with a £15,000 lump sum for the 1995 pension.

Hope I'm doing the right thing but I have no choice alas.

Good luck to you but, once I get past your op I expect to see comments about ground level NHS staff and Civil Servants ruining the country with our pensions.

 

[Uncle Wally One Ball]

Put 18% into mine every month, and people say they are free. £605 a month

 

[blue44]

Put 18% into mine every month, and people say they are free. £605 a month

after that pay rise we have just had,last month for this year, 5.5% ,the biggest pay rise I have had in 14 years.
Its pushed me from 6.5% to 8.3% contribution rate,i cant afford that hit,we just lost a pay protection this summer for
our weekend enhancement rates, so I'm now worse off than last year anyway.
and next april 1st, the minimum wage goes 14 pence an hour above what we're on now,after that big pay rise.

one more reason i'm drawing my pension now.

 

[Scottyboi]

Put 18% into mine every month, and people say they are free. £605 a month

Nice, what percentage does your employer match you? I get 10% at mine which I think is pretty good.