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Friday 28 October 2016
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Pension guide released

An NHS pension guide from NHS Employers is now available to download.

The Pensions Winter Round Up guide provides a quick look at the news and topics that affect the pension schemes in Winter 2014.

Designed for payroll managers and HR teams, the update contains links to further information on the website and helps to keep staff up-to-date with the pension schemes.

The colourful guide includes advice on “what you can do as an employer to help staff access their total awards statements” as well as guidance on “what you can do to help employees make their choice 2 decision”.

The “choice 2 decision” refers to the option available to 500,000 eligible staff on the 1995 scheme to transfer their service to the 2008 scheme.

Currently the NHS pension scheme is undergoing significant changes. The employee contributions remain the same under both the new schemes and the old schemes, but the employer contributions have risen from 0.3% to 14.3%.

Next year’s scheme will also have the same flexibilities as the 2008 section of the current scheme alongside the early retirement reduction buyout.

This means that members can pay additional contributions to decrease the reduction that would occur should they choose to retire early.