The worth of NHS pensions

28th May 2017 by NASGP

The worth of NHS pensions

I have often heard people say it’s not worth being in the NHS pension scheme. Despite the changes, for 99% of people this is just not true and I would love to be a member of either the 1995, 2008 or 2015 pension scheme.

There are fantastic scheme guides on the NHS website and I think all of you should apply for a total rewards pension statement. This tells you your current pension and the actual value of your pension and what it would cost you personally to get the same pension.

1995 scheme

The normal retirement date remains age 60 and all benefits accrued within that scheme can still be taken at age 60 without penalty. The pension is based upon the best salary in the 3 years before you take your benefits. The pension is 1/80th of final salary and a lump sum of 3/80th for each year of service.

2008 scheme

Join

Join to view the rest of this content, as well as access all the benefits of joining NASGP.

Join

Login

Already a member? Login to view this content.

Login

"LocumDeck is self-explanatory and having never made/sent an invoice before it's made my life a lot easier, and made me feel reassured I hadn’t forgotten anything important.

I’ve recommended it to my colleague/friend who is also starting out as a GP locum."

Dr Christine Vickery

Dr Christine Vickery

See the full list of features within our NASGP membership plans

Membership