NHS Additional Pension and Annual Leave

dibdabable

We are filling out retirement forms for NHS 1995 scheme. Retirement will be on July 5th 2015. Additional pension has been purchased and have read somewhere that AP can be used to increase the maximum lump sum does anyone know how exactly?

Also does anyone know how to calculate the annual leave entitlement from April 5th to July 5th. Full time hours and 41 days annual leave which includes 8 BHs per annum. That way we can use this extra leave to make the last day of employment slightly later than the last working day. Many thanks..

nad1611

Just bumping this up. Anyone?

DancingBadger

I think the OP's query falls into the "fine-tuning" category best answered by NHS Pensions. Contact details here:

http://www.nhsbsa.nhs.uk/Pensions/2735.aspx

atush

although Jem might know?

dibdabable

DancingBadger wrote: »

I think the OP's query falls into the "fine-tuning" category best answered by NHS Pensions. Contact details here:

http://www.nhsbsa.nhs.uk/Pensions/2735.aspx

Thanks Dancing Badger hadn't realised they had launched this, that's partly why I asked on here because from previous experience it can be a bit of a wait for a response. I'll check this out now.

dibdabable

This is the immediate answer to;
Does purchasing AP increase my lump sum on retirement?
No, Additional Pension does not automatically increase your standard lump sum on retirement, however it can be used in the calculation if you decide to commute your pension. This means that you would sacrifice some of your annual pension in exchange for a larger lump sum on retirement.

So from this can I take it that the AP isn't used when calculating the basic tax free lump sum. But if someone had a pension of £10,000 per annum plus AP of £3750 and they decided to commute some of the pension to maximise the lump sum would you add the two figures together to give £13750 to multiply by 5.36?? Or am I reading that completely wrong.

I've sent off the question via that same link anyway but hopefully may get an answer here first.