NHS 1995/2015 penions - anyone taken retirement very recently?

Sim_2

If so you would have been a transition member. What date was used for moving you to 2015? The made-up and now illegal one on TRS or April 2022?

GrubbyGirl_2

When you apply for your pension they will give you the option to leave amount in the 2015 as is OR you can choose to convert the period up to April 2022 into the 1995 scheme.

Sim_2

GrubbyGirl_2 said:

When you apply for your pension they will give you the option to leave amount in the 2015 as is OR you can choose to convert the period up to April 2022 into the 1995 scheme.

Thanks but I have applied and retire in 10 weeks but have been told nothing. I am hoping someone out there has a recent experience so I might be able to work out how much my pension will be in the short term. I have a good idea what it should be once the McCloud remedy is in place, but not what rules will be applied in 10 weeks time.

GrubbyGirl_2

This didn't apply to me but as far as I am aware (because NHSBSA told all pensioners they would be doing it) NHSBSA are already rectifying this for current pensioners.  If your forecast when you get it doesn't give you the choice then they will after 1st October and it will be backdated to when you took your pension.

You could always give them a call

kaMelo

Sim_2 said:

GrubbyGirl_2 said:

When you apply for your pension they will give you the option to leave amount in the 2015 as is OR you can choose to convert the period up to April 2022 into the 1995 scheme.

Thanks but I have applied and retire in 10 weeks but have been told nothing. I am hoping someone out there has a recent experience so I might be able to work out how much my pension will be in the short term. I have a good idea what it should be once the McCloud remedy is in place, but not what rules will be applied in 10 weeks time.

Your situation as it currently stands will determine your current pension, as @GrubbyGirl_2 said, anyone with transitional protection and affected by the McCloud remedy will be contacted from October 2023 onwards to implement that remedy with the recently retired being the first to be contacted. It can't happen before October 2023 as new legislation needs to be passed before implementing the remedy.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1033170/PSP_Leaflet.pdf

Some more reading;
https://www.nhsemployers.org/articles/mccloud-remedy
https://www.nhsbsa.nhs.uk/changes-public-service-pensions/if-youve-already-retired-or-youre-preparing-retire

Sim_2

Sim_2 said:

If so you would have been a transition member. What date was used for moving you to 2015? The made-up and now illegal one on TRS or April 2022?

Toanswer my own question. Yes the pension I will initially have will be based on a transition to the 2015 Scheme in 2019. No mention was made about the fact that the figures will be adjusted with a transition from either 2015 or 2022 or any information about when any changes will happen. 

So to carry things on I am 60 in 5 weeks .... I don't have to take my 2015 pension at the same time as my 1995 pension do I ? Can I leave it until I reach 67 or any time in between?  

Pat38493

My wife retired at the end of April ‘22 - 1995 scheme officer status.  She received a letter (after her retirement date and after chasing many times) stating that she had one month of service in the 2015 scheme and she could just leave it there, or I think there was some kind of option to take it early but it would have been worth next to nothing either way.

To be honest my wife was not really aware that she was being forced onto the 2015 pension in April 2022 otherwise she wouldn’t have bothered working that extra month - she said she vaguely heard about McCloud but never received official letters - she was TUPE away from the NHS quite a few years before but stayed in the pension scheme so it was always difficult to get information for her.

I am not sure if the “fake date” you mention above would have any impact on my wife’s situation - she has not done anything about that one month in the 2015 scheme up to now.