Pension Scheme
Junior doctors are eligible for the NHS Pension Scheme. The pension scheme is index linked and based upon final salary, providing an income of (1/80th career average salary x years employed) per year. At the point of retirement the pension also provides a tax-free lump sum of (3/80ths salary x years employed).
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Famous quotes containing the words pension and/or scheme:
“It is a sort of ranger service. Arnold’s expedition is a daily experience with these settlers. They can prove that they were out at almost any time; and I think that all the first generation of them deserve a pension more than any that went to the Mexican war.”
—Henry David Thoreau (1817–1862)
“I have no scheme about it,—no designs on men at all; and, if I had, my mode would be to tempt them with the fruit, and not with the manure. To what end do I lead a simple life at all, pray? That I may teach others to simplify their lives?—and so all our lives be simplified merely, like an algebraic formula? Or not, rather, that I may make use of the ground I have cleared, to live more worthily and profitably?”
—Henry David Thoreau (1817–1862)