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Update on the temporary suspension of cash equivalent transfer value (CETV) calculations
Following the change to the discount rate used for public service pension scheme that HM Treasury announced on 30 March 2023, the factors used to calculate CETVs for members transferring out of the Scheme, and calculating CETVs for divorce purposes…
Temporary suspension of cash equivalent transfer value (CETV) calculations
Following a change to the discount rate used for public service pension schemes that HM Treasury announced on 30 March 2023, the factors used to calculate transfer values for non-Club transfers and pensions on divorce will change.
We have been…
Partial retirement calculator coming soon - information for members
Since changes to partial retirement were announced earlier this year, we’ve been working hard to make sure our processes, tools, and guidance are updated to support members and employers.
As part of this work, the Government Actuary’s Department (…
Clarification on annual allowance statements
We would like to clarify our current position in regards to providing annual allowance pension savings statements.
Recently we have issued annual allowance statements through our automation process, meeting the legislative deadline of 6 October…
Partial retirement calculator - latest information for members
Since changes to partial retirement were announced earlier this year, we’ve been working hard to make sure our processes, tools, and guidance are updated to support members and employers.
As part of this work, the Department of Health and Social…
Partial Retirement Calculator - now available
The Partial Retirement Calculator can be accessed from the partial retirement page of the website: Partial retirement | NHSBSA
With partial retirement, you can take up to 100% of your pension, stay in your job, and carry on building up new pension…
Additional pension
Additional pension allows you to buy extra annual pension if you're an active NHS pension member.
You can do this by:
a single one-off payment (lump sum)
regular monthly payments for an agreed period
You must complete all payments before your…
Further update on annual allowance statements
Further to guidance issued on 10 October 2019, we would like to update members on annual allowance statements.
We issued annual allowance statements through our automation process, meeting the legislative deadline of 6 October 2019. However, we…
Getting an estimate of your pension
We’re currently receiving high volumes of retirement applications
It's taking us longer than usual to process payments of retirement benefits. We prioritise paying our members, so it may take us longer than usual to process requests for estimates…
Department of Health and Social Care confirms change of date of annual 2015 Scheme pension cost of living review
Each year, 2015 Scheme pensions for members who are still actively contributing are reviewed to keep up with the rise in cost of living. The 2015 Scheme pensions are reviewed using the Consumer Price Index (CPI) in the year before, plus an…