Nhs pension and death benefit

kezzygirl

I have an nhs pension, 2015 version. We are buying our first house and i want to clarify what benefits my husband would receive if i die? Can anyone tell me in layman's terms how much this Is? I have looked at the website but it doesn't make sense to me!!

stoozie1

33.75% of your annual pension accrued to date plus half of 33.75% of your last year's earnings as if you'd earned this up to NRD.

justme111

sorry I thought it was 3 times last year p ensionable pay one off payment- you stoozie must have checked it more recently and in more detail - can you elaborate please?

stoozie1

no, you're right about the short term payment, but I have 2 years in writing from NHSBSA as a death benefits estimate. My post was the ongoing annual spouse's pension, sorry.

andy001

Hi Stoozie
Re Annual pension:
The latter part is confusing. Is it half of 33.75% of Last year earning i.e.16.875% ??

2x LAST pensionable earning is right!
thanks

justme111

I thought it was 3 , not 2 !:D

stoozie1

under lump sum in the 2015 booklet it says:

The higher of:
2 x the relevant
earnings in the
last 12 months
of pensionable
service
or
2 x the revalued
pensionable
earnings for the
Scheme year,
up to 10 years
earlier, with the
highest revalued
pensionable
earnings

Hope that helps

stoozie1

andy001, sorry to confuse. I'll do an example. Say you've been a member for 3 yrs and have 20 yrs left to retirement and you've accrued £300/year each year for ease. Your spouse gets 33.75% of that accrued amount annually (£900x 33.75%) PLUS (20 years of £300)/2)x 33.75% which I make £1316.25 annual for life.

But I really hope xylophone or silvertabby or Hyubh are around to confirm.

kezzygirl

Thanks all. Doesn't sound like a lot then.. ..