NHS Pension Scheme


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NHS Pension Scheme

The standard pension which a person receives upon retirement from the NHS. The annual pension is 1/80 of the best of a worker’s last 3 years’ pensionable pay for each year of Scheme membership. Part years of membership also count towards the pension and are paid until the pensioner dies. The lump sum is normally 3 times one’s yearly pension.
References in periodicals archive ?
Examples are old-style selfemployed deferred annuity policies, some trustee buy-out plans and some public sector pension schemes such as the NHS pension scheme.
Pension death benefits are notoriously complicated and each scheme has a different set of rules, so what follows is specifically related to the NHS pension scheme in Scotland.
The Boot Camp is in relation to the procurement of a contract for the provision of Medical Services which aims to make decisions on, and provide for independent advice on, ill health and injury benefit applications made under the regulations of the NHS Pension Scheme and the NHS Injury Benefit Scheme.
It was provided by statutory regulations in 1995; and, in legal terms, rather curiously, it was considered to be part of the NHS pension scheme.
In that time more than 9,000 BMA members have benefited from advice ranging from how to deal with changes in the NHS Pension Scheme to protecting existing pension assets, investing tax effi-ciently and assessing protection needs to supplement benefits provided by the NHS.
Also, they have no guarantee that they'll be able to continue with the NHS pension scheme they've been paying into, or receive the NHS pension they're entitled to when they retire.
But James Davenport, communications and stakeholder relations manager in the Customer Insight and Communications Team at the NHS Business Services Authority, said: "The only opticians who can access the NHS pension scheme are those who work directly for NHS organisations (such as those at the Manchester Royal Eye Hospital) and ophthalmic practitioners.
Planned changes to the NHS pension scheme and a harsh financial climate are pressuring British nurses to work beyond the normal retirement age.
When he joined the NHS pension scheme 20 years ago he had a retirement age of just 60 and the promise of what was almost a full pension based on a 5% contribution.
The NHS pension scheme was reformed in 2008 through negotiation between the Government, employers and health unions to ensure the scheme was sustainable for the future.
Dr Canning said Government reforms to the NHS pension scheme were behind the strike.
Unlike the present government, the NHS pension scheme is not under pressure.