UK - The NHS's final salary scheme is key to boosting the number of new recruits in the health service, a new study claims.
The report – prepared by Loughborough University for the department of health – says the government can boost the number of new recruits entering the health service by highlighting the fact that they will have access to the 1/80th final salary scheme.
The scheme provides members with a tax-free lump sum on retirement equal to three times their pension and offers life assurance worth two years’ pay.
It also provides survivor benefits to members’ families, ill-health retirement benefits after just two years’ membership and improved benefits for members who are made redundant at, or after, 50.
The report said: “The NHS should emphasise job security and availability, pension provision and career progression prospects in its recruitment publicity.
“This may help to attract people – especially men – with slightly different values who would not previously have considered nursing, physiotherapy or radiography work in the NHS.”
But Unison national officer John Richards warned that the government must not gloss over the realities of working within the NHS.
He also stressed that a review of the NHS scheme could have a significant impact on its retirement benefits.
Richards said: “Obviously, public sector pensions are attractive, given that corporate sector schemes are being slaughtered.
“We hope that the government review will not make changes that are unacceptable to members.”
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