NHS Pension - worthwhile?

hyubh

Manxman_in_exile wrote: »

I'm not sure that is correct?

Active member revaluation in the NHS CARE scheme is CPI+1.5% (http://www.legislation.gov.uk/uksi/2015/94/schedule/9/part/1/made)

Thrugelmir

cavenger wrote: »

OK, I think the NHS scheme will be best, but my worry is what happens NHS is sold and privatised...

Surprised that you are not more concerned that you'll never see the day to even draw your pension. As that's more likely an outcome.

Who do you think has the money to buy the NHS?

brewerdave

jem16 wrote: »

Although they were given the choice to move from the 1995 to 2008 sections.

...yes, my wife went thru' the exercise...but to make it financially worthwhile switching to 2008 scheme she had to work beyond ~ 64 -and she really wanted to retire at her "normal" retirement age (SPA) to have more time with the grandchildren:)

Malthusian

Thrugelmir wrote: »

Who do you think has the money to buy the NHS?

Depends if we're valuing it as a "going concern", or purely in terms of land and buldings.

bigadaj

Malthusian wrote: »

Depends if we're valuing it as a "going concern", or purely in terms of land and buldings.

In those terms the obvious analogy seems to be rail track, that didn't end well.

Malthusian

Railtrack was Royal Dutch Shell compared to the NHS.

stoozie1

I'm not sure if the OP has returned to the thread, but we have opted for both NHS 2015 scheme plus a SIPP for my OH, so he can retire earlier than 70 from fine surgical work, which seems wise.

peter3hg

stoozie1 wrote: »

I'm not sure if the OP has returned to the thread, but we have opted for both NHS 2015 scheme plus a SIPP for my OH, so he can retire earlier than 70 from fine surgical work, which seems wise.

If he's on a doctor's salary then he is likely to run foul of the lifetime allowance before hitting retirement age so a SIPP may not be a wise option.

paparossco

I'm retiring next month after 40 years service in the NHS so did the pre-retirement course a few months ago. The 'IFA' they wheeled out advised us to maximise commutation and let him invest the increased lump sum!!

....my feedback form was 'interesting' to say the least. I've had much better advice here. Thanks to all of you who have replied to my posts in the past.

stoozie1

Thanks peter3hg. He's a dentist, and he won't hit the LTA with the SIPP plus 2x NHS DB scheme memberships, but thanks for mentioning it just in case