Discrepancy in Pensionable pay figure NHS

System

Hi


Just to add, it states in the letter that the Lump Sum is 3 x Pension, however none of the figures show a figure of 3 times? For example Pension=£11677.06 Lump sum =£25880.71?


My thoughts are that the pension for the 1995 part is , and then another section of £3050.16 pension per annum.

Which is peculiar if all the service is only in 1 section.

So asking , and getting, as much detail as possible about the record and subsequent calculations seems vital.
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DOH!

There are two NHS Pension Schemes, the 1995/2008 Scheme and the 2015 Scheme. The 1995/2008 scheme is closed to new entrants, however some members retain the right to membership of this scheme. The 1995/2008 Scheme is divided into two sections; the 1995 section and the 2008 section.

Pensionable pay IS Normal pay and certain regular allowances

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So there are the 2 parts, the 80ths and the 60ths.

The 80ths part being:- £8626.90 per annum with 3/80 Lump sum of £25880.71
The 60ths part being:- £3050.16 per annum and no auto Lump Sum.

Overtime is not included in pensionable pay.

nad1611

No doubt about the Section he's in, it was all 1995, no mixing 1995/2008.

It's a moot point regarding overtime because he didn't work any overtime.

So my query with them boils down to, what figures they used for TTP and why it differs and how they came to the Lump sum if Lump Sum=Pension x 3.

Thanks for all your ideas everyone, it's helped focus our attention in the letter we send.

jem16

johndough wrote: »

The 1995/2008 Scheme is divided into two sections; the 1995 section and the 2008 section.

Yes but with the NHS, unlike the LGPS, you are in either one or the other. You do not have part of your pension in one and part in the other.

The only way you would have some in the 1995 section and some in the 2008 section is if you had left the NHS pension scheme and rejoined later after a gap of over 5 years.

The OP has already confirmed that all service was in the 1995 section.

System

Hiya

True about the 1995 scheme it does include a 2008 section as the bit I pasted in came from one of the NHS help sheets.

The calculator for retirements benefits has the option for

• Standard Pension Calculator shows what members of the 1995 Section only can expect to receive in pension and lump sum when they retire. If you are subject to the pensionable Earnings Cap for any membership prior to 1 April 2008, do not use this calculator. If you would like to request an estimate, please refer to the Requesting an Estimate section of the Member’s Hub.

• Pension Commutation Calculator shows, for members of the 1995 and 2008 Section, what they will receive if they choose to give up (or 'commute') some of their pension in return for a lump sum on retirement. If you are subject to the pensionable Earnings Cap for any membership prior to 1 April 2008, please do not use the standard pension calculator. If you would like to model pension commutation amounts using the pension commutation calculator, you should only input benefit figures provided by NHS Pensions.

Therefore I still go along with the theory that the OP may not realise that there is a possibility of both sections being calculated to get those figures.


Without any form of statement of membership how would you know what was accruing in your pension pot? How could you query any discrepancy.

jem16

johndough wrote: »

Therefore I still go along with the theory that the OP may not realise that there is a possibility of both sections being calculated to get those figures.

If you are on the 1995 section ( as the OP says her OH is ) then you stayed on that section unless you chose to move the whole lot to the 2008 section when it came in. You don't have some in the 1995 section and some in the 2008 section.

The only way both sections would be involved is through a break in service which the OP does not have.

nad1611

Would have to agree with jem16 here. In about 2010 my OH was offered along with others, the opportunity to transfer their benefits to the 2008 Section. They had to complete a form if they wished to change to the 2008 section by a certain date which he didn't do and therefore remained in the 1995 section.

As jem16 says if you leave and were in the 1995 section but then rejoined the scheme you could then make the choice to be in the 2008 scheme.

The fact that it says;"for members of the 1995 and 2008 Section".

I believe that simply means that both pension sections are able to use the one commutation calculator,not that the member would have benefits in both sections. This calculator is a new tool on the site,I think the previous commutation calculator was only applicable for the 1995 section.