Is NUVOS any good

laughingboy

So in summary:

Is Nuvos any good? Yes

Will Nuvos (or whatever replaces it) continue to be good (if not as good as before)? Yes/No?

hugheskevi

Will Nuvos (or whatever replaces it) continue to be good (if not as good as before)? Yes/No?

My calcs show that under the reference scheme, you will pay about twice as much as you would for NUVOS, and get benefits worth about 20% more than under Nuvos (wouldn't take that as gospel and it is heavily dependent on assumptions, but I thought it an interesting question, so played with a spreadsheet).

Just about any employer pension is good - I can't recall ever seeing one with employer contributions where I would say individuals would be best not to join.

Your decision should be not pension/no pension but rather Nuvos/Partnership at this time. Although that in itself is not necessarily a simple choice , especially with the escalation of contributions.

foofi22

Stumbled on this thread from Google.

So from my understanding say someone earns £40,000 a year. After 30 years they would have a pension of £27600? (assuming salary rises with inflation etc)

But on the new scheme (1/60) the pension would be £19200. And the age from which you can draw it would be later

Like the OP I'm in a very similar situation, just weighing up options for applying for a job etc