"the Pfizer-BioNTech vaccine is 96% effective against hospitalisation after 2 doses; the Oxford-AstraZeneca vaccine is 92% effective against hospitalisation after 2 doses"
That's relative risk, not absolute risk. It's not saying 8% of people will be hospitalized, it's saying vaccinated people are hospitalized 92% less than unvaccinated people. Your absolute risk is much much smaller than 8%.