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National Employment Savings Trust (NEST) is one of the qualifying pension schemes that employers can use to meet their new duties. It was set up as part of the government's workplace pension reforms. Nest is a trust-based defined contribution pension scheme, run by a trustee (Nest Corporation) on a not-for-profit basis.
One key feature of the current scheme (dating from 2015) is that members pay no employee contribution, with the pension being entirely funded from the public purse. Each year a scheme member accumulates 1/47th of their salary, with a retirement age of 60. The annual pension payment increases each year in line with the Consumer Price Index. [35]
Initially, it was a contributory form of insurance against illness and unemployment, and eventually provided retirement pensions and other benefits. [1] Currently, workers pay contributions from the age of sixteen years, until the age they become eligible for the State Pension.
The NHS is the largest employer in Europe, with one in every 25 adults in England working for the NHS. [46] As of February 2023, NHS England employed 1.4 million staff. [ 47 ] Nursing staff accounted for the largest cohort at more than 330,000 employees, followed by clinical support staff at 290,000, scientific and technical staff at 163,000 ...
The Department of Health and Social Care (DHSC) is a ministerial department of the Government of the United Kingdom.It is responsible for government policy on health and adult social care matters in England, along with a few elements of the same matters which are not otherwise devolved to the Scottish Government, Welsh Government or Northern Ireland Executive.
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The NHS was established within the differing nations of the United Kingdom through differing legislation, and as such there has never been a singular British healthcare system, instead there are 4 health services in the United Kingdom; NHS England, the NHS Scotland, HSC Northern Ireland and NHS Wales, which were run by the respective UK government ministries for each home nation before falling ...
The Scottish Public Pensions Agency (Scottish Gaelic: Peinnseanan Poblach na h-Alba) is an executive agency of the Scottish Government. It is responsible for the administration and regulation of government pension schemes in Scotland. This includes the pension schemes of NHS Scotland and for Scotland's teachers.