SCHEME BENEFITS

• Life Cover at two times your annual pensionable income.
• Inflation proof pension in retirement.
• Tax free lump sum at retirement.
• Inflation proof ill health retirement pension.
• Inflation proof widows/widowers pension.
• Inflation proof children's allowance.
• Department of Health contributions towards your retirement benefits.
• Tax relief at your highest rate on all personal contribution (subject to new HMRC contribution rules).

Personal Contribution Thresholds

Please note

The percentage rate quoted applies to all of your income once the earnings cross over the respective threshold. However the maximum level of income that is taken into consideration for 'Added Years' remains at £115,800.

No new applications for Added Years were accepted from with effect from 1st April 2008

Normal Retirement Ages

The normal retirement age for the majority of NHS Pension Scheme members is 60. (Pre 1st April 2008 Scheme).
The normal retirement age for the majority of NHS Pension Scheme members is 65. (Post 1st April 2008 Scheme).

Please note:

In order to get maximum benefits from the scheme you must complete 40 years’ membership by age 60.

This may seem impossible if you qualified at age 24 or later, or if you are a late joiner to the scheme. However, there is a range of options available to you with regards to improving your retirement benefits. These include:

• Additional Income Optionn
• Money Purchase AVC option

Contact us for further information.

Next: Contractual Issues