I'm in the 2015 scheme. So now have to work until state retirment age, I feel I'm being robbed. And the CPI increases are a con, the CPI figure do not match real world inflation at all. My shopping trolly is double the price, I call that 100% increase in food over the last few years, So that's about 30% per year. CPI says my pension will re adjust by 3-7% ish. I think by the time i retire my NHS pension won't be near enoigh to live on. I also have spoken to colleagues who've spent their whole lives working and paying NHS pension and have to return to work because they don't have enough from their pension. How sad is that
The NHS pension scheme was the main reason I stayed within healthcare and did not switch jobs, even though early in my career most of my friends earned more and were able to maintain normal social hours. Now happily retired (early) on the 1995 section as 30 years in Psychiatry is enough for anyone.
Thanks for sharing your experience! It's great to hear that the NHS pension scheme worked out so well for you, especially after such a dedicated career in Psychiatry. Early retirement sounds like a well-earned reward for all those years of hard work. Wishing you all the best in your retirement - I’m sure your story will inspire others to see the long-term benefits of sticking with the NHS!
Prior to retiring I was on the ‘95 section of the NHS pension and able to take early retirement at 55. There were times I considered not paying pension due to financial stress but glad I continued paying. I’ve seen too many nurses stop paying their pension and then regret it later and return to work because their pension was so poor. A thought with the career average pension, as 95% of registered nurses are female with some likely to reduce hours when having children what impact will this have as their career average will be lower than say, a male nurse who didn’t reduce hours. I see the benefit to the government as there’s less pension to payout. I strongly recommend all nurses to pay into the pension no matter how desperate things are in the moment.
Thank you so much for sharing your story and insight. It’s amazing to hear that sticking with your pension contributions paid off, even during those tough times. You make a great point about the potential impact of reduced hours on the career average pension, especially for nurses juggling family and work. It’s definitely something worth highlighting. Your advice to continue paying into the pension, no matter the short-term challenges, is really valuable - I’m sure it will resonate with many people in the nursing profession. Thanks again for your thoughtful comment!
I'm in the 2015 scheme. So now have to work until state retirment age, I feel I'm being robbed. And the CPI increases are a con, the CPI figure do not match real world inflation at all. My shopping trolly is double the price, I call that 100% increase in food over the last few years, So that's about 30% per year. CPI says my pension will re adjust by 3-7% ish. I think by the time i retire my NHS pension won't be near enoigh to live on. I also have spoken to colleagues who've spent their whole lives working and paying NHS pension and have to return to work because they don't have enough from their pension. How sad is that
The NHS pension scheme was the main reason I stayed within healthcare and did not switch jobs, even though early in my career most of my friends earned more and were able to maintain normal social hours. Now happily retired (early) on the 1995 section as 30 years in Psychiatry is enough for anyone.
Thanks for sharing your experience! It's great to hear that the NHS pension scheme worked out so well for you, especially after such a dedicated career in Psychiatry. Early retirement sounds like a well-earned reward for all those years of hard work. Wishing you all the best in your retirement - I’m sure your story will inspire others to see the long-term benefits of sticking with the NHS!
Really cool!
Thanks J, much appreciated!
Prior to retiring I was on the ‘95 section of the NHS pension and able to take early retirement at 55. There were times I considered not paying pension due to financial stress but glad I continued paying. I’ve seen too many nurses stop paying their pension and then regret it later and return to work because their pension was so poor. A thought with the career average pension, as 95% of registered nurses are female with some likely to reduce hours when having children what impact will this have as their career average will be lower than say, a male nurse who didn’t reduce hours. I see the benefit to the government as there’s less pension to payout. I strongly recommend all nurses to pay into the pension no matter how desperate things are in the moment.
Thank you so much for sharing your story and insight. It’s amazing to hear that sticking with your pension contributions paid off, even during those tough times. You make a great point about the potential impact of reduced hours on the career average pension, especially for nurses juggling family and work. It’s definitely something worth highlighting. Your advice to continue paying into the pension, no matter the short-term challenges, is really valuable - I’m sure it will resonate with many people in the nursing profession. Thanks again for your thoughtful comment!