NHS Pension Scheme. What They Don't Tell You. Can You OPT Out? All You Need To Know
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- เผยแพร่เมื่อ 2 ต.ค. 2022
- Most people, especially those from overseas have little or no information about the Terms and Conditions attached to the NHS Pensions. In this video, I explain into details what most people do not talk about as far as NHS Pension is concerned. Hope this information helps. Kindly share and subscribe!!!
Thank you for sharing this info. very helpful for me.
Wow. Very informative.
Good stuff D!
Thanks dear
I wouldn’t ever recommend taking money out of your pension. The government is contributing to your pension pot and it is a tax efficient way of saving for your retirement,, if you are paying into any pension at an early age it will also have the benefit of compound interest,, having time to grow ,, the NHS pension is one of the best pensions in the country and it can be paid even if you live abroad providing it is one of the countries on their list ,, as with any company pension, if it is taken out of your wages directly you really won’t miss it ,, best wishes, Lisa
This is accurate information...I opted out in my former Trust but I was automatically re-enrolled into the pension in my new Trust.
I'm about to opt out again as I intend to leave the country soon.
However, one thing to note is that you'll be taxed 20% of what you've contributed.
Thanks dear. Kindly share this video with others 😊
What if I’m working for nhs for last 4 years. ? Last one year is with new Trust. I opted out from the former trust and automatically re enrolled to the pension with new trust. Can I still opt out and get the money back ?
Informative.
Btw you look beautiful 😍
Thanks very much 😊
I am about to work in NHS with annual salary of 72000 before Tax..
What will be the percentage of my contribution to the pension ? Will it be before tax and NI or after ?
Please explain ...
Very helpful video, does opting out of NHS pension in the first or second year affect your indefinite leave to remain after 5 years
I don't think the NHS Pension has any link with ILR
Great video. Can I claim and also opt out of the pension too
It depends on your situation
@@GoodHealthConsult okay
British born here. They don’t even go over percentages or pension in the UK educational system. They do it on purpose so you don’t question it. I left the nhs pension just in time to receive the full sum (-20%) before two years. Make sure you leave if you want 9% of your salary every month.
Hi did you find out what can be done if we pass 2 years and was unaware about opt out
I called the pension office in my hospital and they told me
@@GoodHealthConsult so we won't get refund if we opt out after 2 years.is it ?
Nice ... How is inflation in uk?
I have Speciality doctors job in NHS with 72000 GBP per month before tax
I have wife and three kids to support...
Pls suggest is it good salary to begin ?
£72,000 is not bad to start with. Once you're in UK, you can always find better deals
@@GoodHealthConsult
I am 48 years old
What's the pension age in uk ??
Hi It also depends where you live in the UK. the north up you go the better in terms of cheaper rent. with your salary expect around 3900 GBP per month after tax and NI/ pension deductions. also the increase in salary is pretty slow don’t expect much only if you jump hospitals or work locum. schools are important, a lot of parents pick places to live because of good schools you can check the rating of schools using OFSTED rating.
example of rent/ bills:
-Rent around 1000 to 1500 per month.
- council tax around 150 could be more
-energy: really depends on usage and if the house is old or new, around 150 per month and goes higher in the winter.
-Water around 50.
internet/ phones bill: also depends on the package you take. data package 11 per person per month plus like 30 for internet.
-Cars most people do PCP but as starter il will difficult because most of them ask 3 year address history residence in the UK. You can lease a car through the NHS scheme (best option tax efficient is electric ones) but don’t know if you can do it immediately after joining. The best option at the beginning is to live not far from the hospital where you can walk or bike. average of 70 GBP weekly for the petrol(small car) if you live a bit far from your work.
-foods 500 to 1000 depends what is your consumptions basket. especially with the inflation.
This is a just an example it could be more or less. hopefully it can help you clear some of your questions.
Hi @@paediatriciandoctorzahidhu8360 . Cost of living is very high here. Would suggest to reconsider if you are able to save money in your country now. with current job
65@@paediatriciandoctorzahidhu8360
If we opt out of pension after 1 year, Do we get the amount which NHS also contributed to it? ( for eg: The salary is 2000 pounds. I have contributed 200 pounds each month and NHS contributed 400 ( 20% of 2000) each month. If I opt out after 1 year, do I get 7200 pounds? (200 * 12 + 400 *12)
To the best of my knowledge, u can claim back your pension deductions with 2 years of joining the NHS. If u speak to the pension officer in your NHS hospital, they'll give you the form to fill
You dont need to get your money if you decide to leave the UK as a nurse because the NHS pension allows you to get your money when you retire and that will help you greatly in your retirement.