Alternative to nhs pension?

Tabbytabitha

caronoel wrote: »

+1

Those of us in the real world would love a generous state guaranteed final salary pension, paid for by the rest of us.

Working for the NHS is about as real as it gets!

TARDIS

MonkeyDr wrote: »

Thank you, that is v interesting. I thought that I had done my numbers right (and my career hasn't been entirely linear so I am a little worse off than others my age / grade), but I will go back and look again. Any maybe try and get a quick LISA before I am too old instead of a further pension...

You can get a rough estimation of your eventual 2015 pension using the BMA calculator or the one on the doctors.net finance forum, although I don't think either are up to date with the recent rise in NPA age.

Remember to add on what you have already accrued in the 2008 scheme which you can find on your total rewards statement: https://www.totalrewardstatements.nhs.uk

You have to be under 40 to start a LISA and I think you mentioned you're 41 so that option's out I'm afraid. You can still use a standard ISA to plug any gap between early retirement and NPA if you wish. You don't get the tax relief on contributions, but neither will it be subject to income tax on the way out so not an awful idea (whereas leaving the NHS pension altogether would be )

Docjames

Thanks,
I have an ISA already. I am looking to open a SIPP with AJ BELL or Charles Stanley. .probably deals with only multi asset funds like
1. Vanguard lifestrategy 60.
2. HSBC cautious fund
3 L and G multi fund 5
Will look into others just to spread the risk..no shares for sure
Doc James