A short YouTube video (by Ndubuisi 'Andy' Egwim) explaining why contributing to the NHS pension is valuable. The speaker highlights immediate tax relief, substantial employer contributions (a verbal claim of 23.7%), that contributions are index-linked to inflation, and describes the pension as effectively a guaranteed salary for life.
23.7%
So Isa, the government wants people to save and invest so that they don't depend on the government welfare pension. If you put any money into your pension, you get tax relief now and that tax relief can become massive. If you're a higher rate taxpayer, your employer, whether it's your trust or whatever, your NHS pension, your employer is putting 23.7%. That means Ola, if you earn 100,012.5% is going into your pension Port, your employer is putting so yourself 12.5%. You're just being paid some money now and some money is being paid into your future. That's your pension. Port, if you are in the NHS pension, whatever contribution you have made is index linked. So that jargon four is moving up with inflation. That means it rises with inflation, basically rises with inflation. These are some of the benefits of your NHS pension and apart from all these things I've mentioned, remember that the NHS patient is like a guaranteed salary for life basically as long as you're alive.
