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 ?
The NHS Business Services Authority (NHSBSA) is responsible for the NHS Pension Scheme and is preparing to go to market to procure services connected to its pensions administration function.
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.
Plans to reform the NHS pension scheme would mean doctors working longer and contributing as much as 14.
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.
Heads of agreement have been reached with the NHS Pension Scheme, the Principal Civil Service Pension Scheme, the Teachers' Pension Scheme and the Local Government Pensions Scheme, based on an improved offer made on November 2, said Mr Alexander.
The current NHS pension scheme is very healthy, we don't understand where the Government are getting these distorted figures from.