The Total Reward Statement (TRS) is the main document which gives a breakdown of your pension contributions and benefits, as well as other information about your annual income. Your TRS is available annually in August and is most easily accessible via your Trust’s Electronic Staff Record Programme (ESR) or from the TRS website. In this … Read more
Many doctors would have had to use a student loan to study medicine for 5 or 6 years. In this article, we will discuss the terms of your loan, how it’s paid back, and the changes to the student loan that took place in 2012. To begin, student loans are broken down into 2 domains: … Read more
As an NHS worker, you will be entitled to a certain degree of maternity or paternity leave. For ease of structure, we’ll first talk about maternity leave and pay, and then explain how this leads to shared parental leave (SPL). Maternity leave All pregnant employees are entitled to a period of 52 weeks’ maternity leave. … Read more
It’s important to plan for sudden unexpected circumstances, and sometimes this involves planning for the worst. This article will discuss what happens if you become unable to work due to illness, injury or disability and how you can plan your finances in these circumstances. If you are off sick, you are entitled to paid sick … Read more
How will my salary be determined after changes due to coronavirus? Because of coronavirus, a number of juniors across the country have had their working rota amended, to facilitate emergency staffing. This may have meant a change in the frequency of your weekends, out-of-hours shifts or total working hours. The change in your shift pattern … Read more
It’s really important to understand your payslip, so you can make sure you’re being paid and taxed correctly. Unfortunately, they can be extremely tricky to interpret as they use a lot of jargon, acronyms and other terms that seem strange to someone without a background in finance or accounting. We’ve included a sample payslip below. … Read more
Investing can be the key to long-term financial health by making your money work for you. It can be tricky sometimes to put together enough to get your investment portfolio started, and that’s where budgeting comes in. Alongside optimising your income, curbing your expenditure using a budget can help you build up some savings to … Read more
For doctors moving from CT/ST2 to CT/ST3, the following article is essential reading, as using salary sacrifice could boost your take-home income if used judiciously (~£200 per month). What is salary sacrifice? A salary sacrifice scheme is when you agree to exchange part of your salary in order to receive extra non-cash benefits from your … Read more
If you’re a new or prospective junior doctor, you might come across the term “banding”, usually referring to your salary. But there’s not usually very much information about what it means or how it applies to you. In summary, banding no longer applies to junior doctors in England under the “new” 2016 contract. To find … Read more
Update – 10th January 2021 This page is currently under review, and will be updated shortly!