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NHS Pension Scheme

The NHS Pension Scheme is administered by NHS Pensions, part of the NHS Business Services Authority
Further information on the scheme and contact details can be found on their website.

Full details of the proposed reforms implemented from April 2015 can be found at the Department of Health website or at the NHS Employers website. 

Details of the employee contribution rates payable from April 2014 can be found here.

An online calculator is available here.

From April 2015 a new NHS Pension Scheme came into force. The new scheme provides benefits calculated on a Career Average Revalued Earnings (CARE) basis based on the average of a member’s pensionable earnings throughout their career.

The new scheme was implemented from April 2015 with all new members being enrolled into the 2015 scheme following 1 April 2015. Members of the existing 1995 and 2008 sections have different entitlements (protection) and were communicated to all members through NHS Pensions. Information on the new NHS Pension Scheme can be found here.

In summary the scheme provides:

  • a Career Average Revalued Earnings (CARE) scheme, with benefits based on a proportion of pensionable earnings during the employees career
  • an accrual rate (i.e. the rate that your pension builds up) of 1/54th of each year’s pensionable earnings with no limit on pensionable service. This is a higher accrual rate than both the 1995 and 2008 sections of the NHS scheme
  • revaluation of active members’ benefits in line with the Consumer Price Index (CPI) plus 1.5 percent per annum
  • a normal pension age at which benefits can be claimed without reduction for early payment linked to the same age as you are entitled to claim your State Pension
  • pensions in payment to increase in line with inflation (currently CPI).

 Introduction to the NHS Pension Scheme 2015

Information on the Scottish NHS Pension Scheme can be found on the Scottish Public Pension Authority website.