Talk:NHS Pension Scheme

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Investing?

Latest comment: 11 years ago2 comments2 people in discussion

Does the NHS PS invest in tradable assests, and if so who controls these and how much is owned? Kevlar67 01:17, 12 October 2007 (UTC)Reply

No, the money goes to the UK Treasury (effectively investing in "UK plc" so to speak, as tax revenues tend to go up and down with the stock market). I've read that this makes it very cheap to run, as no broker fees etc, although I can't find the reference so I haven't added this to the article. JohnS 17 May 2012 —Preceding undated comment added 21:51, 17 May 2013 (UTC)Reply

Amends for reiview

Latest comment: 9 years ago1 comment1 person in discussion

KaylaMcCormack (talk) 18:44, 24 February 2015 (UTC) Please can the below be concidered for review to update the page. (I'm new to this and want to make sure it is done correctly.)Reply

The NHS Pension Scheme was created in 1948. It is the largest centrally administered public sector pension scheme in Europe. It is administered by the NHS Business Services Authority, a special health authority of the Department of Health of the United Kingdom.

The Scheme is an unfunded occupational Scheme backed by the Exchequer. It is open to employees in England and Wales from the NHS and other approved organisations.

The NHS Pension Scheme currently has 1.35 million actively contributing members and 650,000 members with preserved benefits and it pays pensions to over 800,000 pensioners every month.

NHS Pensions works with the NHS and other approved employers who are responsible for local administration of the Scheme.

At present the 1995/2008 Scheme provides defined benefit pensions based on final salary or career average arrangements for GPs and General Dental Practitioners. From 1 April the 2015 NHS Pension Scheme will be introduced, this new scheme will be based on a career average for all member types. Benefits built up pre 1 April will not be affected and will be calculated in accordance with the rules of the 1995/2008 Scheme.

Post 1 April the Scheme will comprise of the following member types:

1995/2008 Scheme only
1995/2008 Scheme and 2015 Scheme
2015 Scheme only

The Scheme has two guides for members the 1995/2008 Scheme Guide and the 2015 Scheme Guide.

From summer 2014 NHS Pensions in partnership with ESR McKesson provided Total Reward Statements for NHS staff. Total Reward Statements are a personalised summary that shows each employee their full employment package which includes:

Basic pay
Allowances
Local benefits
Pension benefits (for NHS Pension Scheme members)

The statements are refreshed annually.

External links

Official website

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