Quote:
Originally Posted by parent of pre-reg student  Do you know roughly how much tax, national insurance and pension contribution should be deducted from a Band 5 hospital pre-reg's pay at about £18500 p a? Can you opt out of the pension? What if you leave the NHS say within 5 yrs - can you claim it back or is it frozen until you are of pensionable age?
Thanks |
For information about NHS pension scheme see here
NHS Pension Scheme in England and Wales
£18500 is around £1200 per month take home according to the link I posted previously. You can opt out of pension but may be cheaper not to for various reasons, you should seek financial advice to make a sound decision.
Actually was just playing on the tax calculator and paying an NHS pension of around 5% reduces you monthly income by £50, as you pay less NI. Still seek proper advice and check it out for yourself.