31 January 2017
As mentioned in the November 2016 Employer Newsletter, the Department of Health intends to introduce a levy to cover the cost of Scheme administration from 1 April 2017. Consultation on the proposed levy and amendments to the NHS Pension Scheme Regulations ended on 9 January 2017 and the Department is currently considering the responses received
The proposed levy equates to 0.08% of each active member’s pensionable pay and, if approved, will be collected through the standard employer contribution by increasing the Scheme contribution rate for employers from 14.30% to 14.38% from 1 April 2017.
As soon as the outcome of the consultation is known and we are informed of the decision, a further update will be published with any actions that may be required.