NHS Pension worth it?

Andy_L

geoffgeofftygeoff wrote: »

...and which group of taxpayers are forced to pay this? None.

There we go.

Irrelevant, You said you "don't want to pay for other people's company pensions". Unless you only shop at companies that don't provide a company pension (which will be near impossible if/when NEST comes on line) you are paying for other peoples company pension. Even if you avoid that you are still paying for the employees personal pensions

Andy_L

dunstonh wrote: »

i just googled... NHS is 4th. Walmart, Indian Railways, China National Petroleum then NHS.

http://www.rediff.com/business/slide-show/slide-show-1-the-worlds-biggest-employers/20101207.htm

I thought the Chinese army was ahead as well?

getmore4less

bendix wrote: »

Yes, there's a need for an NHS. But how that NHS can have grown so ridiculously unwieldy as to be the third largest employer in the world is a national disgrace, and testament to its innate inefficiencies.

Let's get this into perspective. It is the third largest employer in the world, after the Peoples Liberation Army in China (population 1.35 bn), the State Railway Corporation in India (population 1.2bn).

The population of the UK is, what? 60m.

It's totally ridiculous.

You forget we have a integrated heath care service mainly under one employer the NHS.

Other countries like the USA have similar ratios of doctor/nurses per capita as the UK so will be employing more people to provide the service just with multiple employers.

Andy_L

RichandJ wrote: »

Follow it through right to the end bendix. Anyone who receives their income solely from the state does not pay one net penny in tax, either direct or indirect, as every penny they receive has come from the state. It's a book keeping exercise.

I am not saying what they (some of them) do is without value to society as a whole but they don't 'pay' tax in to the system.

In that case could I have my salary tax free as it will make no difference

Andy_L

katie1234 wrote: »

Anyway, to the OPs question. The new NHS pension is no longer a final salary one but i still think its worth it.

Its close enough to final salary for discussion though (as oposed to a carear average scheme) , the difference between best 12 consecutive months in last 3(?) years and average of best 36 months in last 10 years is marginal - effectively thats penultimate salary or even closer if you've bounced off the top of the pay scale for a few years

geoffgeofftygeoff

Andy_L wrote: »

Irrelevant, You said you "don't want to pay for other people's company pensions". Unless you only shop at companies that don't provide a company pension (which will be near impossible if/when NEST comes on line) you are paying for other peoples company pension. Even if you avoid that you are still paying for the employees personal pensions

Not irrelevant. There is a big difference in that choice comes into it and Tesco have to afford their own pension scheme. It can't be based on la-la mathematics where the budget consists of other people's money who have no choice in the matter.

I would actually be happy contributing to the employer's part of the pension if the amount was known. By that, I mean it should be defined contribution (say 10% from the employer to be generous) not defined benefit.

I am entirely unhappy with the ridiculous situation where the employer (in effect us) takes an unknown and unlimited risk (in the sense that the increase in public sector employees has been out of control) so that the next generation can pay for the overspend of the past.

PipPip

I've decided I need to find a job the NHS. At 40 its not too late for me to join the gravy train.

getmore4less

Andy_L wrote: »

Its close enough to final salary for discussion though (as oposed to a carear average scheme) , the difference between best 12 consecutive months in last 3(?) years and average of best 36 months in last 10 years is marginal - effectively thats penultimate salary or even closer if you've bounced off the top of the pay scale for a few years

It is now much harder to do the pension boost by doing nights or going part time and only doing sundays/bank holidays.

A Nurse could boost their pension by ~ 30% over normal pay by selective working.

The new scheme makes it easer to down grade jobs approaching retirement.

One good thing is those that retired from the old scheme can rejoin the new scheme if they go back to work.

FATBALLZ

getmore4less wrote: »

It is one benifits that helps many NHS workers tolerate the low pay.

And helps a much higher number of overpaid NHS workers.

Spirit_2

getmore4less wrote: »

It is one benifits that helps many NHS workers tolerate the low pay.

Nhs pay post agenda for change is not low on a like for like basis with private sector jobs. Add in the many other good terms and conditions and it is a very attractive package.