Medics Money podcast

Ep - 12 A beginners guide to the NHS pension (1/2)

6 snips
Nov 3, 2020
Guest
Rachael Hall
Learn the ins and outs of the NHS pension scheme with Rachael Hall. Understand the differences between the 1995, 2008, and 2015 schemes. Get insights on ethical investing, risks of opting out, and good habits for doctors' pensions. Discover why Rachael's partner chose medicine over DJing.
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ANECDOTE

Missed DJ Career

  • Rachel Hall's partner chose medical school over touring with Moby as a lighting technician.
  • He had the opportunity to be a superstar DJ.
INSIGHT

NHS Pension Sections

  • The NHS pension has three sections: 1995, 2008, and 2015.
  • Each section differs in retirement age, accrual rates, lump sums, and death benefits.
ADVICE

Early Pension Reduction

  • Understand accrual reduction before taking your NHS pension early.
  • It reduces your pension for each year before the scheme's retirement age.
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