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NHS pension
Maybeanotherday
Posts: 714 Forumite
Ive been offered to join my works pension Im 25years old and not sure if I want to join or not...
The payments will eat into our outgoings more and I was planning on joining in a couple of years...if this a wise move or do you think I should be acting on it now? thanks
The payments will eat into our outgoings more and I was planning on joining in a couple of years...if this a wise move or do you think I should be acting on it now? thanks
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Comments
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The NHS Pension is one of the best you can get.
Grab it with both hands!(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
Yes - for your contribution will be about 6.5% which after tax costs about 3.5% and your employer puts in 14%. There are benefits such as life assurance as part of the scheme.
This is a fantastic benefit, which you would regret missing out on so the sooner you join the more you will gain.0 -
Join , doing anything else is crazy, you won't miss the money (much). In the end when your retire it's the number of years you have been in that is more important than the amount you have put in and you can't buy added years like you used to be able to.0
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The payments will eat into our outgoings more and I was planning on joining in a couple of years...if this a wise move or do you think I should be acting on it now? thanks
Not joining would be like drawing money out the cashpoint every month and burning it. You would be a fool not to join.
If you cant afford the tiny contribution involved then it suggests a bigger a problem with your finances and you should pop over to the debt free wanabee section of the board where they are very good at helping people with debt and affordability problems. (and dont kid yourself. If you cannot afford the net contribution then you have financial problems).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks guys
Just starting out and two kids in toe etc etc was making me hold back. thanks again 0 -
The only reason I could think of for not joining is if you knew you had a congenital condition that would prevent you living to pension age - and even then the nhs scheme includes a dependents pension so even that's not a great argument for not joining.0
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(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
and galsseven-day-weekend wrote: »...............and gals! sorry 0 -
NHS pension?
..... Only thing some of us are still working in the NHS for!!:rolleyes:0
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