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Excessive NHS Pension Payouts Revealed

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New figures have revealed that some NHS Chief Executives can look forward to an annual pension of up to £110,000 despite the government struggling to make it’s recommended cutbacks.

In comparison, the average public sector worker can expect to receive an annual pension of around £7000. According to PricewaterhouseCoopers accountancy firm, private sector workers would have to save 37% of their wages to match the pension of someone in the public sector on a similar wage.

The biggest retirement payout will go to Sir Neil McKay of the East of England authority. Reports suggest that it is currently valued at £2.59million. What’s more, he is currently paid between £230,000 and £235,000 a year.

Sir Ian Carruthers, from the South West strategic health authority is expected to receive between £100,000 and £105,000 when he retires, with an estimated pension pot valued at £2.58 million.They will contribute around 8.5 per cent of their salaries to their pension, and the remainder will come from NHS budgets.

In addition, other statistics have revealed that more than 2600 senior managers are paid £250,000 a year, over £100,000 more than the Prime Minister.

Daniel Poulter, Conservative MP for Central Suffolk and North Ipswich blamed Labour for the excessive spending stating, “It is completely unacceptable that under Labour, senior NHS managers, some of whom were already paid salaries ten times more than hard-working nurses, received annual pay increases of around 7 per cent when front-line NHS staff received only 1.8 per cent.” He added that the current government needs to “curb this kind of excessive spending.”

It it thought this will be one of the recommendations put forward to the panel of experts reviewing the government’s reforms plans.

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