cutie23 Posted January 7, 2013 Share Posted January 7, 2013 I would like some advice on whether I should opt out of the pension scheme with the NHS. I am on a band 2 pay scale and my contract is fixed term for 5 months. There is no guarantee I will be kept on as I am covering a position for secondment. I am not planning a career in NHS unless I am promoted. The benefits of NHS pension scheme: Annual contribution paid by employer worth £1,981 An annual Pension payable for life after retirement Tax free cash lump sum on retirement reduced rate of national insurance contributions Tax relief on pension contributions Many Thanks Link to comment Share on other sites More sharing options...
Parvo Posted January 8, 2013 Share Posted January 8, 2013 Can't imagine that 5 months pension payments at band 2 will amount to much at all when you retire to be honest. you could try this to find out http://www.dh.gov.uk/health/agenda-calculator/ you might have to google it cos it don't look much like a link:) Link to comment Share on other sites More sharing options...
ewatson Posted February 20, 2013 Share Posted February 20, 2013 A final salary is a great pension If you do join and leave within 2 years you can have a return of contributions Link to comment Share on other sites More sharing options...
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