Nhs pension scheme

onedrop1

It would be amazing if you could do a section on nhs pension scheme, it is seems to be very different from.other private pensions.

JoeCrystal

Why? NHS pension schemes and indeed like all other public sector DB pension schemes have their own websites or their employers or massive bodies of information about them.

Of course they are different in that they are still very generous with their employees assume very little of the risks.

If you need more information about the NHS pension, just read the website and or ask your pension administrator at work.

So yes, very different from typical private DC pension schemes!

dunstonh

https://forums.moneysavingexpert.com/discussion/6677425/nhs-pension-scheme

Generically, there isnt much different with the NHS pension and other Defined Benefit schemes.

The NHS Scheme booklet is very good and the NHS pensions website gives all the detail you need. An MSE copy and paste of the NHS website would be a bad idea when you consider how abbreviated many of the MSE articles are or how often they go out of date.

QrizB

In case the OP didn't know, the NHS Pension Scheme website is here:

https://www.nhsbsa.nhs.uk/nhs-pensions

Marcon

https://forums.moneysavingexpert.com/discussion/6677425/nhs-pension-scheme

I suspect the difference you have in mind is the difference between defined contribution schemes (now very much the norm in the private sector) and defined benefit schemes (still alive and well for most public sector workers).

Start by having a look at https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics and in particular look at the section headed 'Understand your employer's pension scheme' and the section on defined benefit schemes: https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/defined-benefit-or-final-salary-pensions-schemes-explained

Once you've done that, you are likely to feel much more confident about having a wander onto the NHS pensions website.

It's a fantastic scheme - be very grateful indeed if you are able to join it!