NHS Pension Scheme: Arrangements beyond 1 April 2015



Changes to the NHS Pension Scheme in 2015

As you may be aware, the Government has announced that new pension arrangements are to be introduced into all public sector pension schemes including the NHS Scheme from 2015. Much of the detail is still being worked out but the main features of the new arrangement include:

• A Career Average Revalued Earnings (CARE) scheme, with benefits based on a proportion of pensionable earnings during your career

• An accrual rate (ie 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 is linked to the same age you are entitled to claim your State Pension.

A State Pension Calculator is available on the Gov.uk website.

• Pensions in payment to increase in line with inflation (currently CPI).

Further information about how a CARE scheme works will be made available on this website in due course.

NHS Pension Schemes: An Overview.

2015 Scheme factsheet

A summary of the proposed final agreement on a scheme design from 2015 can be viewed at: https://www.gov.uk/government/publications/reforming-the-nhs-pension-scheme-for-england-and-wales-proposed-final-agreement


2015 NHS Pension Scheme calculator

The Gov.uk website has three calculators to help understand and estimate the benefits members may be entitled to through the 2015 Scheme changes. More information is available here. Links to the calculators can be found below:

Calculator for Agenda for Change staff

Calculator for medical and dental staff in the hospital and community health services

Calculator for salaried primary dental care staff

At present only limited information is known about the new arrangements, which are still under design and discussion with NHS staff representatives.  Meanwhile please do not contact NHS Pensions as it is unlikely they will be able to provide any further clarification at this time.