NHS 2015 Deferred Membership and increases

hugheskevi

spaniel101 said:

Although Im not enough of an expert to understand this fully, it maybe that leaving on 31 March (of any given future year) would result in, at least, a '11/12 leave index adjustment' or even 12/12, with revaluation date now being applied 6 April

(- thoughts please @hugheskevi ?) 

I read this legislation as saying that when someone leaves mid-year, take the starting value of their pension following the last revaluation (along with newly accrued pension), and increase it by x/12 of the enhanced in-service revaluation rate applicable to the leaving year. x is the number of complete months since the start of the scheme year (1 April). That will calculate the value of their deferred award at date of leaving, after which normal revaluation applies, as set out in the HMT revaluation tables. 

I'd caution I am not very familiar with schemes operating enhanced in-service legislation though!

spaniel101

Thanks @hugheskevi, I agree with this interpretation.   @Moonwolf maybe you could throw this back to nhsbsa 'Technical Team' (as opposed to general customer service) and ask them to distinctly confirm in writing (they do already know the revaluation date has changed to 6 April, re my first link as they have published it on their website, under department of health updates).

There are many, many things on their website pending updates, let alone the 2015 scheme guide.  I suspect all anchors are being thrown at current retirement calculations  / McCloud / complaints, rather than ensuring we are provided with acurate and up to date information (without having to google) and thus, it may take a bit of persistence to get to the right technical person using 1 distinct question with the above legislation, to confirm (time is on your side at least!).

Moonwolf

Thanks to both @spaniel101 and @hugheskevi I've re-asked the question.  I'll come back if I get an answer.  However the interpretation of this is that I'm back to as I was.  Just retire when I want and a specific date won't cost me.

There are many, many things on their website pending updates, let alone the 2015 scheme guide.  I suspect all anchors are being thrown at current retirement calculations  / McCloud / complaints, rather than ensuring we are provided with acurate and up to date information (without having to google) and thus, it may take a bit of persistence to get to the right technical person using 1 distinct question with the above legislation, to confirm (time is on your side at least!).

Yes, all the LTA and annual allowance stuff needs updating and the payment rate adjustments need updating in some places.