ABSTRACT
Investment trust companies do a similar job but in a significantly different way. They are companies whose business is to invest in other companies, and the investor actually buys shares in the investing company. Good investment advice will revolve around using simple, sensible and legal methods of keeping the tax man at bay. Alternatively, if income is needed, the cash can be reinvested into income-generating vehicles, which are often more tax efficient than the pension plan. The NHS pension is important because it is protected against the ravages of inflation and, hopefully, NHS staff will have maximized NHS staffs benefits from the scheme. First comes the good news – the lump sum NHS staff receive from the NHS pension scheme is tax free. State pension benefits become payable from the age of 60 for women and 65 for men and, depending upon the type of benefit, have a large measure of inflation protection.
