NHS Pension forecast-Can I retire at 50?
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Probably the worst disaster Private pensions have ever undergone, was the raid by Gordon Brown in his early days of chancellor when he taxed the dividends on our (formerly tax free) pensions.
Agreed. Then another raft of regulations (some backdated!) hit contribution levels, and there is now scary talk of removing higher rate tax relief on contributions.
HMG: Manufacturing a pensions crisis since 1997.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Not sure what the local pension team really are for, and I work for the NHS. When i have a query i ring the National centre who answer immediately and are very helpful. In contrast when a colleague died (in service, woman with young children) 6 months ago, the local pension team leader who was supposed to sort out and expedite the paperwork was obstructive bureaucratic and unhelpful in the extreme. Happy to give her the chop.0
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There you go, that should be the first cut made in yout local NHS trust to keep w/in their budget. Make sure you tell them though, as cutting managers/office staff is the LAST place they look ;-) They more often think to cut hours, staff, drug and food budgets first.0
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They more often think to cut hours, staff, drug and food budgets first.
Many years ago, I knew someone who was trying to sell the NHS a PDA-based patient tracking system. He quickly realised that the departments actually doing the work couldn't afford PDAs and those on admin/management side would risk losing the devices in the carpet pile if they dropped them.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
This actually brings to mind how salary average rather than final salary is more fare to most NHS workers, esp the low paid. It was seen that the fat cat managers at the top of hospitals/trusts were on high salaries and getting fairly large and lux pensions as it isn't based on their starting and mid years salaries just their last high paid year. They were getting too large a slice of the pension pie.
Most NHS workers have a jump at the begining after starting but then have salaries that grow slowly over time w/o huge jumps up.0 -
Hi Diddleyidi.
I, too, looked at retiring at 50 from NHS but the money I would lose was just too much and I have had to resign myself to staying for another 5 years. I quite literally tick the days of. I can understand why you would want to leave NHS but continue to work.
I am a nurse in a Community Mental Health Team. We have just been reorganised with a reduction in jobs and so I am familiar with the culture you describe. We were told that the NHS don't make anyone redundant. If surplus to requirements you must apply for another vacant post, not necessarily in the same capacity.
Some (sensible?) people couldn't take the strain and left and so we are covering vacant posts also.We now have double the work load but, apparently, should consider ourselves lucky to have a job at all.
Everyone in my team is caring and consientious (despite the bad press nurses get these days). The job carries a huge weight of responsibility.
We can't possibly keep up with the amount of work but just to prevent us from drowning we work our socks off.
No one has a lunch break, everyone works more than their paid hours. We don't have time for any of the normal social chitchat you would expect between collegues.There are no perks to this job, no bonuses, we don't even get priority NHS care, the milage allowance is a pittance.
Not all public sector workers are on the same gravy train.
Rant over:)0 -
Not all public sector workers are on the same gravy train.
Rant over:)
Being able to even contemplate retiring at the tender young age of 55 is a pipe dream for most in the private sector.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
I have every sympathy with your overwork and dealing with the NHS bureaucracy and endless reorganisiations, but dont overegg your argument by claiming the mileage rate is a pittance. 47.3p/mile (1000-1500cc) and 58.3p (over 1500cc) are pretty damn good i would say. And the pension is one of the best there is.0
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I 58.3p (over 1500cc)
Here in the private sector, we get 42p a mile.And the pension is one of the best there is.
well, quite. In the private sector, someone would need to put 30% of their income into a pension to retire on 2/3rds of average salary at the age of 55. As private sector wages are lower, this is rarely an option.
The gravy might not be quite as thick as it used to be for public sector people, but it's still nice gravy.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Oh, they were right then. I am lucky to have this job.0
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