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The NHS Pension Scheme has 1.7 million members actively contributing, 713,000 deferred members and 1 million pensioners receiving benefits. [ 3 ] The benefits and conditions vary according to the type of worker and the dates of their service.
This page was last edited on 25 February 2017, at 20:59 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension. Labor unions, the government, or other organizations may also fund pensions. Occupational pensions are a form of deferred compensation, usually advantageous to employee and employer for tax reasons.
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The NIF are used to pay for social security benefits such as state retirement pensions, but not for the means tested Pension Credit and Tax Credits. National Insurance contributions also provide a small part of the funding for the public healthcare systems in the UK (including the National Health Service in England), but contributions are paid ...
Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later date after which it was earned. Examples of deferred compensation include pensions , retirement plans , and employee stock options .
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