NHS Pension

I think the only advantage is obviously the high contributions NHS makes towards your pension, you’d lose that amount and your own contributions if you opted out. But FYI The first two months are often the worst as SMP isn’t included.

Aren’t the first 2 months full pay? Lots opt out of the pension on maternity, just make sure you opt back in when you go back

I took a break from Mine about 3/4 months in as I didn’t realise it went off your full wage not the reduced mat pay and you also have to pay more when your back if you take the 3 months unpaid. I figured yes it would make my pension less when I eventually get it but in the grand scheme of things that’s still 30 year away and I plan to rejoin when I return

I opted out during pregnancy to save for maternity and then opted back in on my return to work. It’s a very personal choice but for just a little over a year, for us it wasn’t worth it!

https://www.thetimes.com/money-mentor/pensions-retirement/nhs-pension-contributions-news-claim-opt-out Bit long but found this helpful! Basically you do lose other benefits/they're not as generous such as lump sum for family on death and ill health retirement (obvs you hope these won't ever be needed but you just never know!). You pay tax on the extra money so you won't take home exactly what you're paying into pension on payslip. And as well as missing the contribution that year from you/your employer you also miss out on the interest that year's pension would have accrued each year until you retire. It is a personal choice though so if there isn't a way for you to comfortably afford it I wouldn't worry too much if you decided to opt out x