At Azets Wealth Management, we have a specialist knowledge of NHS pensions and benefits.
With our in-depth understanding, we can offer you expert advice specific to your individual circumstances on:
There comes a time when you stop working for your money and put your money to work for you.
For most people, this happens at retirement, and the decisions you make at this stage could have repercussions for the rest of your life.
You may be approaching retirement age or it may be a while off, but you will benefit from having a conversation now. We can help you to answer the following questions:
We have tools, including cashflow modelling software, that can help answer the above questions, including considerations around the McCloud remedy.
The McCloud Remedy was introduced in response to a 2018 court ruling that found age discrimination in the 2015 reforms of UK public sector pension schemes. The ruling determined that younger workers were unfairly treated by being moved to less favourable pension schemes while those closer to retirement were protected. As a remedy, affected workers can now choose between the old and new pension schemes for the period between 2015 and 2022, with the decision to be made at retirement.
If you die while you are an active member of the CARE 2015 Pension scheme, your family will receive a tax-free lump sum of two times your salary. This is a valuable benefit, however, there are some questions that you should ask yourself:
We recommend that you review your existing financial position, including liabilities and, where relevant, the cost of raising children to adulthood. You should consider whether you have sufficient life and critical illness cover in place.
As an NHS employee, you may be entitled to occupational sick pay. This is typically up to six months at full pay and six months at half pay, depending on your length of service. Some questions you may want to ask are:
It is worth considering your current circumstances and whether your workplace sick pay is sufficient to protect you and your family or whether the loss of income would provide a serious detriment.
As part of Azets Group we are also able to offer advice and expertise in other business areas, including:
If you have any questions in relation to the above or would like to discuss your specific circumstances, please get in touch with a member of our specialist Wealth Management team to arrange a free initial discussion.
Contact usWhether you know what you need or just want to explore your options, we're here to help.
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