NHS pension help

[Ollivander84]

So I'm 33 with no pension (don't shout at once)
I'm now in the NHS one. But I have a problem from 2018 my contribution goes up to 3% which I can't afford (I've been on a pay freeze forever and I'm band 3) then 2019 up to 5%

So my choices are
Stay in it and be (v) skint and unable to pay more off debt
Exit out of it, do nothing
Exit out of it, save 1% a month - but everyone says don't save if you have debt

Help? I'm clueless about pensions!

Sorry, 14.3%.

Employer contribution currently 14.3%, it’s reassessed every 4 years to ensure enough money is going in to cover everyone’s benefits.

Have found payslip. And a colleague that's been here forever
Payslip says NHS pension 9.3% £192.32 which makes much more sense!

Yup, that makes sense
and the NHS scheme is well worth it
stay in if you possibly, possibly can

That was with overtime as well (unplanned overtime!) so would usually be a bit less

Ta1k - I will stay in now!
Thank you all, you know when you just have a blind panic and can't see the wood for the trees? My colleague is on the same point of the band and said she pays 7% ish but my enforced overtime has pushed me to the 9%

Olliv
you need to check how they calculate the contribution rate
as there is a chance that you were bumped up in error
and it will drop back next month
but then you need to find out if they will rebate the excess contributions

It's due to the overtime. Colleague said when she works any OT it pushes her over and so that month she contributes more, and the next she contributes back to normal again

As you have a chronic illness I’d definitely stay in the NHS scheme. Even under the new less generous terms if you had to take ill health early retirement at any point they would have to make your pension up to a set number of years. This at least gives you some chance of an income if things deteriorate.

Yeah definitely. It's an illness that may go (usually a kids disease that they grow out of!) but as I was diagnosed at 31 it's less unlikely