1995 vrs 2008 pension schemes

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Ruthie
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1995 vrs 2008 pension schemes

Post by Ruthie » Wed Mar 16, 2011 8:00 pm

I had a number crunching document in my pigeon hole today about whether I want to switch from the 1995 pension scheme I was automatically put into when I joined the NHS to the 2008 one.

Does anyone have any views on which is the better option? I need to read through it all properly but wondered what the general feeling was?

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russ
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Re: 1995 vrs 2008 pension schemes

Post by russ » Wed Mar 16, 2011 8:19 pm

As a complete cynic, I can't believe the government/NHS, at this point, would be asking us to give up the 1995 pension in our own best interests. I won't be changing.
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BlueCat
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Re: 1995 vrs 2008 pension schemes

Post by BlueCat » Wed Mar 16, 2011 8:34 pm

If it didn't work out cheaper for them they wouldn't be trying to encourage us to change! I will be staying in the 1995 section. Also I want to retire at 60, not 65.
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Re: 1995 vrs 2008 pension schemes

Post by Ruthie » Wed Mar 16, 2011 10:20 pm

This was my thought - they would not want us to change if it wasn't a worst deal - glad to see I am not the only cynic! :lol:
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Spatch
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Re: 1995 vrs 2008 pension schemes

Post by Spatch » Wed Mar 16, 2011 10:33 pm

Trust me, you don't want to give up a final salary pension in favour of a career average one. Not for psychologists' career progression.

I won't be changing, thats for sure.

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miriam
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Re: 1995 vrs 2008 pension schemes

Post by miriam » Thu Mar 17, 2011 2:48 am

I won't be changing. They want people to work longer for less.
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BenJMan
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Re: 1995 vrs 2008 pension schemes

Post by BenJMan » Thu Mar 17, 2011 9:47 am

I came into the NHS just a few months too late to get on the old deal :( Cling on to it for dear life!
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eponymous85
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Re: 1995 vrs 2008 pension schemes

Post by eponymous85 » Thu Mar 17, 2011 12:13 pm

BenJMan wrote:I came into the NHS just a few months too late to get on the old deal :( Cling on to it for dear life!
Ditto. I was working for them temp since 2003 but didn't start paying in to the pension until it was too late. Don't be duped, keep it!
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ell
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Re: 1995 vrs 2008 pension schemes

Post by ell » Thu Mar 17, 2011 6:21 pm

I probably should know more about my own pension stuff, but which one would I be under, having started working in the NHS late 2003?

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irishemma
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1995 vrs 2008 pension schemes

Post by irishemma » Thu Mar 17, 2011 8:29 pm

I also stayed in old pension

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BlueCat
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Re: 1995 vrs 2008 pension schemes

Post by BlueCat » Thu Mar 17, 2011 8:33 pm

If you joined the pension scheme on or before 31st March 2008 and have no breaks in your service then you are currently in the 1995 section. You should have received a leaflet about this?
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matt.berlin
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Re: 1995 vrs 2008 pension schemes

Post by matt.berlin » Thu Mar 17, 2011 10:39 pm

If they allowed me to move the other way, I certainly would - alas, unlike you oldies I'll have to make do with the 2008 section :wink:
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katyboo
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Re: 1995 vrs 2008 pension schemes

Post by katyboo » Sun Mar 20, 2011 9:06 pm

i elected to stay put on the 1995 scheme too

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jane doe
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Re: 1995 vrs 2008 pension schemes

Post by jane doe » Sun Mar 20, 2011 9:41 pm

I don't remember being asked about this... has everyone been asked if they want to stay/change? How do they ask you? I feel left out :(

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Re: 1995 vrs 2008 pension schemes

Post by tarasian » Mon Mar 21, 2011 1:23 am

jane doe wrote:I don't remember being asked about this... has everyone been asked if they want to stay/change? How do they ask you? I feel left out :(

Lots of people are still being informed of there options so dont worry - i suspect they just havent been in contact with you. If memory serves the are roling out all the paperwork explaining the options right up until 2012 (lots of nhs staff to be contacted and it all takes time). Some of the staff i work with have aleady made their choices but others (like me) are still due to be contacted.

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