Pension or House Deposit?

resilie

The NHS is so short staffed at the moment that it should be easy to pick up a couple of bank shifts a month which will cover your pension contributions. If you do that now you can rejoin the pension asap, and if you work an extra shift here and there you can start putting away for a deposit.
When I started in the NHS I worked something like 60hs on average, often 80h weeks, and once a month I did 12 days straight without a break. Things are a lot easier now and I wouldn't manage this at my age anymore but I would recommend pulling your socks up till the spring and buckling down...

Edmond_2

resilie wrote: »

The NHS is so short staffed at the moment that it should be easy to pick up a couple of bank shifts a month which will cover your pension contributions. If you do that now you can rejoin the pension asap, and if you work an extra shift here and there you can start putting away for a deposit.
When I started in the NHS I worked something like 60hs on average, often 80h weeks, and once a month I did 12 days straight without a break. Things are a lot easier now and I wouldn't manage this at my age anymore but I would recommend pulling your socks up till the spring and buckling down...

Neither of us are clinical, we're admin. I've recently joined an on-call rota, so I'll see some extra income from that. To be honest I hadn't worked it into any budget because I don't know what I'll make from it yet.

resilie

admin staff can do bank...one of our secretaries regularly stays behind to do extra work and gets paid by the hour...plenty of opportunity out there if you go looking for it

Edmond_2

resilie wrote: »

admin staff can do bank...one of our secretaries regularly stays behind to do extra work and gets paid by the hour...plenty of opportunity out there if you go looking for it

Thanks, will investigate.

crv1963

Some of our admin joined the Nurse Bank, I think a couple hundred extra a month for 2 shifts. Useful even short term to boost the coffers. Depending on which area of admin you're in you could tell the interview panel and your line managers you want to get a good understanding of how what you do impacts on clinical staff and widen your experience? Also as at your banding you aren't receptionist/ secretaries you could make a good case for wanting direct service user contact as it'll likely be limited in your current role?

CityOwl

Edmond wrote: »

Is there somewhere I can work out what my pension contribution would actually be based on my income. I'm due to go up to £37750 next year and the salary calculator says my pension contribution will be
£227, which is more than what you're paying. I selected 'employer' and left 'contracted out' checked.

https://www.thesalarycalculator.co.uk/salary.php

I have had a quick look at the NHS Pension Scheme and given it a go, hopefully someone more knowledgeable will correct my figures if they look wrong.

For a salary of £37,750 you will need to make a 9.3% contribution and your pension will accrue at 1/54. This equates to an annual contribution of £3510.75 (£292.56 per month) giving you a pension of £699 per year from state pension age. Minus income tax this figure will drop to £234.05.

There is a presentation on the NHS Employers website, Page 14 gives an example of someone on £40,000 which is in your ballpark.

http://www.nhsemployers.org/your-workforce/pay-and-reward/pensions/nhs-pension-scheme

The presentation looks very informative and highlights what a bonus it is to have a DB Pension.

Edmond_2

crv1963 wrote: »

Some of our admin joined the Nurse Bank, I think a couple hundred extra a month for 2 shifts. Useful even short term to boost the coffers. Depending on which area of admin you're in you could tell the interview panel and your line managers you want to get a good understanding of how what you do impacts on clinical staff and widen your experience? Also as at your banding you aren't receptionist/ secretaries you could make a good case for wanting direct service user contact as it'll likely be limited in your current role?

This would look great in both our roles, a really good idea. Don't know how much chance we'd have of getting accepted though with no clinical experience.

crv1963

Edmond wrote: »

This would look great in both our roles, a really good idea. Don't know how much chance we'd have of getting accepted though with no clinical experience.

Everyone starts somewhere with no experience of the area/ role they end up in. What counts is the desire to learn, you didn't start in admin on 37k pa. Our previous CE started as a HCA in elderly care!


If you don't try you will never know, I don't know what type of Trust you are in or what your admin role is but you could always point out everyone clinical always moans that there is too much admin/ admin doesn't know the clinical pressures!


There is a role for admin in Trusts just not many clinicians value how much pressure admin take from them for instance I complete an incident report, but I don't report it to the CQC because in the NHS someone I've never met or heard of takes on that task freeing me to have more clinical time. Most NHS clinicians don't even know the way reporting and alert systems work and how important they are to what they do. Or even to them keeping doing their work.


Finance are the guys who cut posts, but not the guys who work hard shifting bits of budgets around to create posts as well. In most clinicians eyes. I don't mind payroll because I want my salary, pensions officers because I want my pension correct. But estates why do I need to worry about signage or decorating the admin offices? Silo thinking!


That's part of the problem with big organisations everyone thinks their bit is the essential bit, not that we're all part of a big jigsaw, pull enough pieces out and you can't see the big picture! I'd welcome working bank with someone who's in admin, as long as they know the HCA role they're working in with me on a Ward. They only learn that starting somewhere, no one would expect you to know everything in one go.


I work in a community role, but love working 2-3 shifts a month on Wards to keep my hand in and I learn the difficulties they have, can communicate problems we have and help in a little way improve communications at a local level between the two areas, I sometimes work with a Social Worker who works as a HCA just to see where his clients end up and sometimes ends up explaining to in-patient staff some of the problems keeping them out of hospital.


The more we crossover between areas the better service we can provide, within reason of course.

Alexland

Well done Edmond, with good advice, it looks like you are getting on the right track now.

atush

Just join the pension, ASAP