nhs pension , 1995 section

justme111

If one retires at 60 does one get a full pension or only a proportion of it corresponding to contributions before 2008 with whatever proportion corresponding to contributions after being paid once one .is65? When sent their paperwork a few years ago i chosen to stay in 1995 section
Not sure of relevance of this as I have years to any of those ages and rules may change again and I may want to work .anyway , just curious.

xylophone

http://www.nhsbsa.nhs.uk/Pensions/Documents/Pensions/SD_Guide_(V12.2)_online_05.2014.pdf

justme111

thank you for the link , that leaflet does not speciafically address my question though. I would assume as it does not say 1995 section retireing would get only part of benefit it should be all of it , just wondered if anybody knew for sure

Deneb

justme111 wrote: »

thank you for the link , that leaflet does not speciafically address my question though. I would assume as it does not say 1995 section retireing would get only part of benefit it should be all of it , just wondered if anybody knew for sure

It does, on page 4. Normal retirement age for all staff in the 1995 scheme is 60, therefore if you retire at 60 you will get your full entitlement with no actuarial reduction.

xylophone

that leaflet does not speciafically address my question though.

It would be a good idea to read the booklet carefully and familiarise yourself with the rules of your scheme?

justme111

Not sure why this board exists at all - after all all information is in booklets !
Ps. I can bet 1:10 neither of you understood the question. Fair enough , ought to learn express myself better .

Neasy

I have to admit that I still don't understand the question even having read it a few times! But then again I'm not a pensions expert so that might explain it.

I personally find the board very useful; I have found posters to be astonishingly helpful and prepared to go out of their way to locate relevant information for someone they don't even know.

Thanks to everyone who tries to help - much appreciated.

Neasy

Deneb

You're right. I don't understand what 2008 has to do with it at all. You said that you had chosen to stay in the 1995 scheme? What therefore is the relevance of 2008?

jem16

justme111 wrote: »

If one retires at 60 does one get a full pension or only a proportion of it corresponding to contributions before 2008 with whatever proportion corresponding to contributions after being paid once one .is65? When sent their paperwork a few years ago i chosen to stay in 1995 section
Not sure of relevance of this as I have years to any of those ages and rules may change again and I may want to work .anyway , just curious.

if you have chosen to stay in the 1995 section, the 2008 section has no relevance to you at all as all your entitlement is under the 1995 section.

More importantly, with the changeover to the CARE scheme from April 2015, what age are you?

xylophone

after all all information is in booklets !

Indeed - and you could always pick up the telephone and speak (politely) to the Scheme Administrator.



Hint - you say that you are and have always been (?) a member of 1995 Section of the Pension Scheme- so

Follow the orange boxes throughout.

Follow the icon appropriate to your status.

For example, on page 4 if you are an officer in the 1995 Section, ( icon medical bag with cross) your normal retirement age is 60 ( but see box on page 19 regarding Special Class status)

You receive:

A pension worth 1/80th of final year’s pensionable pay per year of membership plus


Retirement lump sum

3 x pension. Option to exchange part of pension for more cash
up to 25% of capital value.



And on page 18

The 1995 Section’s normal pension age is 60.
If you work beyond age 60 your pension will be paid when you eventually retire.

And if relevant (page 7) From April 2015 a new NHS Pension Scheme will be introduced. The details of this new scheme are not yet finalised and therefore any information provided in this guide may not be applicable after March
2015. Please refer to our website for more information about these new arrangements at:
https://www.nhsbsa.nhs.uk/Pensions

PennyForThem_2

I am in 1995 NHS pension scheme. Once you reach 40 years in scheme no benefit to contributing a penny more. If you are not at 40 year mark when you reach 60 then you have the option of carrying on until you are 65. However you cannot contribute past your 65th birthday (unlike 2008).