NHS Bank and pension

nigelbb

buyhighselllow said:

nigelbb said:

Why on earth would you not want to earn NHS pension? It accumulates at 1/54 ie if you earn £54 you will receive £1 of pension every year for the rest of your life. Life expectancy at pension age is around twenty years so for each £54 you earn you will receive a total index linked pension of about £20 or getting on for an an extra 40%.

Can I restart into the 2015 scheme without affecting what I am already receiving from this part of my pension ??

Yes you can.

woolly_wombat

Correct me if I am wrong but I didn’t think NHS bank work qualified you to rejoin the NHS pension, unlike retire and return.

nigelbb

woolly_wombat said:

Correct me if I am wrong but I didn’t think NHS bank work qualified you to rejoin the NHS pension, unlike retire and return.

It does. The caveat is that bank earnings are not eligible for the NHS pension if you are working full time in a substantive post in which case NEST pension will be offered. If working only on the bank then all earnings will be eligible for NHS pension.

Bobinyorkshire

While I was working for NHS professions whilst also doing a part time substantive post in the NHS at another site I contributed to the NHS pension for both.
My only concern now would be the final link element, as my final years would be on a lower salary with less shift payments. I therefore plan to leave whilst one of my final 3 years can still be used for the 1995 calculation especially if I have more years thanks to McCloud