NHS Pension Scheme
Encyclopedia
The NHS Pension Scheme is a large pension scheme for people who work for the English NHS and NHS Wales. It is administered by the NHS Business Services Authority
, a special health authority
of the Department of Health
of the United Kingdom
.
The main benefits and conditions of the scheme are explained in the NHS Pensions document Scheme Guide - NHS Pension Scheme http://www.nhsbsa.nhs.uk/Pensions/Documents/Pensions/SD_GUIDE_COMPLETE.pdf. The benefits and conditions vary according to the type of worker and the dates of their service; from 2008 the "Normal Retirement Age" changed from 60 years to 65 years while the proportion of pay upon which a pension is based was increased. The benefits are index-linked and guaranteed. They are based on final salary (members who joined before 1 April 2008) or average salary (members who joined after 1 April 2008) and years of membership of the scheme. There are no administration costs. Members can increase their contributions if they wish to get larger benefits (within certain limits).
NHS Business Services Authority
The NHS Business Services Authority is a special health authority of the National Health Service in England and Wales. It was created on 1 October 2005 following a review by the Department of Health of its "arm's length bodies". It began operating on 1 April 2006, bringing together five...
, a special health authority
NHS Special Health Authority
A special health authority is a type of NHS trust which provide services on behalf of the National Health Service in England. Unlike other types of Trust, they operate nationally rather than serve a specific geographical area....
of the Department of Health
Department of Health (United Kingdom)
The Department of Health is a department of the United Kingdom government with responsibility for government policy for health and social care matters and for the National Health Service in England along with a few elements of the same matters which are not otherwise devolved to the Scottish,...
of the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
The main benefits and conditions of the scheme are explained in the NHS Pensions document Scheme Guide - NHS Pension Scheme http://www.nhsbsa.nhs.uk/Pensions/Documents/Pensions/SD_GUIDE_COMPLETE.pdf. The benefits and conditions vary according to the type of worker and the dates of their service; from 2008 the "Normal Retirement Age" changed from 60 years to 65 years while the proportion of pay upon which a pension is based was increased. The benefits are index-linked and guaranteed. They are based on final salary (members who joined before 1 April 2008) or average salary (members who joined after 1 April 2008) and years of membership of the scheme. There are no administration costs. Members can increase their contributions if they wish to get larger benefits (within certain limits).
See also
- Scottish Public Pensions AgencyScottish Public Pensions AgencyThe Scottish Public Pensions Agency is an executive agency of the Scottish Government. It is responsible for the administration and regulation of government pension schemes in Scotland...
, which administers the pension scheme for NHS ScotlandNHS ScotlandNHS Scotland is the publicly funded healthcare system of Scotland. Although they are separate bodies the organisational separation between NHS Scotland and the other three healthcare organisations each commonly called the National Health Service in the United Kingdom tends to be hidden from its...
External links
- Official website
- NHS Employers website
- http://johnread3.blogspot.com/ informative blog on NHS pensions