Doctor's pensions - how are they so generous

Just looking at the website and the 1995 pension scheme is worth 1/80 of your highest salary for each year you worked. I worked with someone who was a part qualified account (1 set of passes), not manager role who spent 35 years with the same company (starting at 18) and his pension was £29k per year and a lump sum close to £200k and this was 6 years ago.

 

With the 1995 scheme, your pension is 1/80th of the best of the last three years' pensionable pay for each year of membership in the scheme.

The pension is calculated as follows: Pensionable pay x pensionable membership in days x (1/80 x 1/365) = pension.

Calculating your 1995 NHS pension: an example

Jean was in the 1995 NHS pension scheme for 15 years (or 5,475 days).

The best of her pensionable pay in her last three years of work was £33,000.

Her pension is calculated as £33,000 x 5,475 days x (1/80 x 1/365) = £6,187.50 per year.

Think they’ve stopped that scheme and it’s now something like 17% contributions. It’s been very problematic for consultants on multitun. especially when they make more contributions for over time pay.