NHS Pension vs Private Pension? Secure Your Retirement!

Now. While I've always been a big fan of investing and I appreciate the benefits it offers and has helped me to get to where I got to, I firmly believe the importance of saving some of your money in a place where it's not exposed to investment risk. That's where the NHS pension comes in. Unlike the private pension schemes, your NHS pension income which is a defined benefit scheme is based on your service length and salary rather than you know how up and down the stock market goes so it takes away that risk for you. With the government guaranteeing your pension income you don't need to worry about the ups and downs of the market or how well your pension investment returns are going. So think about it. When the economy is shaky like during the stock market downturns or recessions, people with private pensions might see their savings go down. However, NHS pensioners can relax knowing that their income is secure and won't change as a result of market fluctuations.