NHS pension

[Old Greg]

Inflation in the UK isn't and won't be measured as loss of value against reserve currencies

You'll be lucky to get enough to buy a cup or two in EuroStarBucks

There is a relationship between CPI and loss of currency value.

Worst comes to the worst, I'll use the pension to buy your bedsit and move PC and his family in with you to make sure the rent is covered

[AtW]

There is a relationship between CPI and loss of currency value.

They will just change the rules then

[Old Greg]

They will just change the rules then

Life is full of 'maybes'.

[SueEllen]

Wonder why nhs costs so much

80% pensions




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The NHS relies on their staff, particularly the highly paid ones, working until they are dead or simply dying early.

Unfortunately the government f***ed this up by demoralising staff so they actually retire early and claim their pensions.

[AtW]

The NHS relies on their staff, particularly the highly paid ones, working until they are dead or simply dying early.

Unfortunately the government f***ed this up by demoralising staff so they actually retire early and claim their pensions.

What an utter incompetence

In the other news IHT collections are booming - doubled in the last two years and that’s before 2020-21 covid season is factored in

Victory for pensioners as judges say inheritance tax doesn't apply to gifts made in ill health

[TestMangler]

I was just doing a bit of life admin and I thought I'd better track down my NHS pension. Turns out that for a little over 7 years' contributions, I've got a £7k annual pension from age 60 CPI linked + 21k lump sum. I haven't trawled through annuity rates but it feels like I've just stumbled across 250k that I'd forgotten about.

I've got a similar sized one to that from my time in the Civil Service. Took longer to build it up to that though, as the starting salary for an ASO in 1979 was like £1995. I took VR in '94 as an HSO so my last couple of years helped build it up a bit. It was also non-contributary so had forgotten about it until an old mate from CS days found me on Fudbook and reminded me of it. He'd hit 60, not remembering he had it until he queried the source of the £20K odds that had just appeared in his bank account

[Old Greg]

I've got a similar sized one to that from my time in the Civil Service. Took longer to build it up to that though, as the starting salary for an ASO in 1979 was like £1995. I took VR in '94 as an HSO so my last couple of years helped build it up a bit. It was also non-contributary so had forgotten about it until an old mate from CS days found me on Fudbook and reminded me of it. He'd hit 60, not remembering he had it until he queried the source of the £20K odds that had just appeared in his bank account

My starting salary was crap but I aced the NHS Agenda for Change grade mapping exercise just before I left and it's final salary based.

[TestMangler]

My starting salary was crap but I aced the NHS Agenda for Change grade mapping exercise just before I left and it's final salary based.

Looking back into it, so was mine, so the starting salary is immaterial

15/80 of my final salary plus 3 x annual pension as a lump sum (index linked from when I left). I've already had £35K redundancy out of them in '94 as well, so it's not bad compensation for a job I f**king hated mostly.

[Whorty]

My starting salary was crap but I aced the NHS Agenda for Change grade mapping exercise just before I left and it's final salary based.

Similar to me ... started British Gas after Uni and worked for 4 years in early 90's. A bit of a Final Salary pension that will cover Sky and Broadband each year when I retire

Got some mates who stayed and still working there (National Grid these days) - their DB pension is quite a nice pot by now, but to get it they had to stay in the same job for 30 years!!

[AtW]

Life is full of 'maybes'.

There is no maybe about Govt shafting people who are locked into pension

“ The association, which represents most big players in the pensions and insurance industry, warned that the move would reduce the value of pensions and investments by £122 billion if it is introduced in 2025 and £96 billion if the switch is delayed until 2030.

This is because some savings products, such as defined benefit pensions, are linked to RPI, so changing to CPIH would reduce returns on these assets”

https://www.thetimes.co.uk/edition/b...itch-hqvjbxp6k