Does the NHS Pension Scheme leave you feeling scrabbled? The SoR offers help with its quick checklist.

From 1 April 2008 changes to the NHS Pensions Scheme will come into effect.

All members are advised to visit the Agency’s Pension changes website this month.

This is being continually updated and new information is being added regularly. A poster and leaflet highlighting the April changes (which employers have been asked to make available but which they may not have done so) can be found in the employers’ library section.

The SoR has issued a handy checklist for all those affected by the changes:

Action before 1 April 2008

• Employees not yet in the Scheme and who want a pension based on age 60 retirement can still join the current NHS Scheme in March – but as from 1 April only the new Scheme, with a pension based in retirement at 65, will be available;
• Members with unmarried partners can access the required nomination forms from the website, or their employer, to secure cover for their partner starts in April;
• Members thinking about buying extra pension can keep open an option to buy Added Years by expressing an interest to their employer or the Agency before 1 April – they can then choose between Added Years and the new Additional Pension in the period before their next birthday (after which the option lapses);
• Members who would like their death in service lump sum to be divided between more than one individual can access the required nomination form.
• Members considering an application for ill health retirement should note that applications before 1 April will be dealt with under the current rules.

Reasons to delay age retirement until after 1 April In order to access the benefit improvements being introduced members must be contributing to the Scheme on 1 April - the main improvements are:

• Access to the option for a higher tax free cash sum by surrender of part of the pension;
• A dependant’s pension for a nominated unmarried partner based on all service back to 1988;
• Dependant pensions paid for life rather than ceasing on re-marriage or cohabitation;
• An option for pensioners who return to work in the NHS to have that further employment pensionable from a date two years after their retirement.

Remember, new contribution rates will apply in April 2008. Click here for full details of NHS Pension changes.

Posted: 05/04/2008