NHS 1995 pension.

Purpleheart

My 1995 pension is now forever frozen in 2022! I am due to retire and I need to know if my 1995 pension will be based on my pay in 2022 or my pay now. I can't get a definite answer, even from the pensions people. Does anyone know the answer?

Dazed_and_C0nfused

Purpleheart said:

My 1995 pension is now forever frozen in 2022! I am due to retire and I need to know if my 1995 pension will be based on my pay in 2022 or my pay now. I can't get a definite answer, even from the pensions people. Does anyone know the answer?

Where have you read it is frozen?

That would be very unusual for a public sector DB pension and I would be very surprised if you hadn't misunderstood something somewhere.

Purpleheart

I haven't misunderstood anything. I'm guessing you don't work for the NHS?

Marcon

Purpleheart said:

My 1995 pension is now forever frozen in 2022! I am due to retire and I need to know if my 1995 pension will be based on my pay in 2022 or my pay now. I can't get a definite answer, even from the pensions people. Does anyone know the answer?

What have you actually asked 'the pensions people'  - and which ones? In house, or the main administrators?

Pages 6 and 7 of the booklet explain what is used as the basis for pensionable pay: https://www.nhsbsa.nhs.uk/sites/default/files/2023-04/1995-2008_Members_Guide_%28V24%29_04.2023.pdf

Or is this query linked to McCloud: https://www.medicsmoney.co.uk/what-does-the-mccloud-judgement-mean-for-my-nhs-pension/#:~:text=On%20your%20pension%20%E2%80%93%20the%20pension,scheme%20for%20those%207%20years.

Purpleheart

Thanks Marcon but that is the information I have been already given. I'm being thick but I just don't understand what years actual pay is used to calculate my pension. I can't get a pension forecast because my Trust's pension section is too busy due to the McCloud judgement. 

Dazed_and_C0nfused

Purpleheart said:

I haven't misunderstood anything. I'm guessing you don't work for the NHS?

True, I don't.  But I do believe you are the first poster who genuinely has a frozen NHS pension.

hugheskevi

Assuming that your have not opted out of the scheme at any point and that you are not a Practitioner, the final salary used will be the highest salary from the last 3 years as at the date you retire. That will probably be your salary over the last 12 months prior to retirement.

You are probably getting confused by the change in 2022 to the post-2015 career average pension scheme. That meant you ceased accruing qualifying years in the 1995 scheme, but the final salary link remained intact.

Marcon

Purpleheart said:

Thanks Marcon but that is the information I have been already given. I'm being thick but I just don't understand what years actual pay is used to calculate my pension. I can't get a pension forecast because my Trust's pension section is too busy due to the McCloud judgement. 

Scroll on a further page and perhaps this helps?

'An annual pension worth 1/80th of the best of the last 3 years’ pensionable pay per year, and pro rata for any part year, of membership'

Purpleheart

Thank you Hugh, that's exactly what I needed to know. I'm aware I'm no longer paying in to the 1995 but I wasn't sure about the final salary link. Also good news as I was part time in 2022 and I'm now full time so my pension will be better than I expected hopefully.

Purpleheart

Dazed_and_C0nfused said:

Purpleheart said:

I haven't misunderstood anything. I'm guessing you don't work for the NHS?

True, I don't.  But I do believe you are the first poster who genuinely has a frozen NHS pension.

A new pension scheme was started in 2015 so previous pension schemes we're frozen. I think you'll find there's thousands of people like me! 

Dazed_and_C0nfused

Purpleheart said:

Dazed_and_C0nfused said:

Purpleheart said:

I haven't misunderstood anything. I'm guessing you don't work for the NHS?

True, I don't.  But I do believe you are the first poster who genuinely has a frozen NHS pension.

A new pension scheme was started in 2015 so previous pension schemes we're frozen. I think you'll find there's thousands of people like me! 

Except if the pension retains a final salary link then it is clearly isn't frozen.

You won't be accruing additional service but the pension could be more that it currently is.