Ep 285: Your overview of the NHS Pension.

Ep 285: Your overview of the NHS Pension.

This podcast provides an in-depth explanation of the NHS pension scheme, featuring insights from Andy Pow, a specialist medical accountant with 30 years of experience. Topics discussed include the tax efficiency of NHS pensions, the differences between the 1995, 2008, and 2015 sections of the scheme, retirement age variations, and comparisons between NHS and private pensions. The video also covers additional benefits such as death in service and ill-health retirement benefits. Essential yearly checks for maintaining an accurate pension record are highlighted, alongside practical examples and detailed calculations.

00:00 Introduction to NHS Pension Queries

01:07 Understanding the Basics of Pensions

01:52 Tax Efficiency of NHS Pensions

02:49 Employer Contributions and Tax Bands

04:33 Differences Between NHS and Private Pensions

05:35 Sections of the NHS Pension Scheme

09:29 Additional Benefits of NHS Pensions

11:31 Calculating Your NHS Pension

16:22 Importance of Regular Pension Checks

20:18 Conclusion and Further Resources

Mentioned in this episode:

**Terms and Conditions apply. Capital at risk. You must remain invested for 12 months to retain the welcome bonus. One Bonus per client. These are affiliate links and Medics Money may get a commission at no cost to you if you go onto open an account.** Personal Investing: https://investengine.com/affiliate-welcome/?utm_medium=Affiliate&utm_source=Medics%20Money&utm_content=Podcast Business Investing: https://investengine.com/affiliate-business-welcome/?utm_medium=Affiliate&utm_source=Medics%20Money&utm_content=Podcast

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Ep 341: Maximise Your Earnings: Essential Tax Tips for Doctors

Ep 341: Maximise Your Earnings: Essential Tax Tips for Doctors

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[MDT] NHS Pension £7.4 BILLION surplus, £1.1 trillion cash bonfire, stealth tax traps continue..

[MDT] NHS Pension £7.4 BILLION surplus, £1.1 trillion cash bonfire, stealth tax traps continue..

Current money issues for doctors: the £100k tax trap, cash drag, and the NHS pension surplusA Medic's Money MDT episode with Tommy Perkins, Dr Cyra Asher, Andy Pow, and Ed. The team breaks down three ...

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Ep 340: TRUST ME, I'm an expert in IHT

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In this episode, Cyra sits down with Shivali, a senior private client lawyer at Talbots specialising in wills, estates, trusts, and tax, for a deep dive into inheritance tax (IHT). They cover the basi...

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Ep 339: These tax tips can save Doctors £THOUSANDS in tax

Ep 339: These tax tips can save Doctors £THOUSANDS in tax

You could save £thousands with our free guide - https://medicsmoney.co.uk/free-guide/In this episode, Ed GP, chartered accountant and tax advisor) and Andy Pow (specialist medical accountant with 30+ ...

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Ep 338: NHS loses Thousands of Doctors abroad — Asterix health is bringing them back

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Check Aserix out here: https://asterix.health/Tommy is joined by Julian, co-founder of Astrix Health, a startup tackling the NHS GP shortage by bringing GMC-registered doctors working abroad back into...

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Ep 337: NHS Pension for New (and current) Doctors: The £7 Billion Question

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Join Medics' Money with a free guide here: https://medicsmoney.co.uk/free-guide/In part two of the Medics' Money New Doctors' Finance series, Dr. Ed Cantelo sits down with specialist medical accountan...

11 Elo 26min

Ep 336: Budgeting, Investing & Surviving Your New Rotation

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Get your free guide here: https://medicsmoney.co.uk/free-guide/Starting a new rotation, or FY1, is exciting, overwhelming, new payslips, and filled with a whole lot of new questions. In this episode, ...

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Ep 335: Why is buying/selling my house taking so long??

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This week, Cyra (a chartered accountant and doctor) interviews Donna Butler, a technical support solicitor at Talbots Law, about why buying and selling property is so slow and stressful. Donna outline...

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