1995 NHS Pension complaint

LightFlare

hyubh said:

LightFlare said:

Purplelady65 said:

LightFlare said:

Going part-time  would always have had an affect on your pension anyway - especially under the 1995 section - depending on what wte you changed to it could be making a bigger difference than the change from B4 to B2

Calculation of pension in the 1995 scheme is based on whole time equivalent salary so going part-time doesn’t affect that part of the calculation but does impact on the number of years of service. For example, if you worked 4 days a week for 15 years the number of years service in the pension would be 12 years as opposed to 15 years for a full time worker. 

Exactly - so an approx 20% real terms difference in end pension. (Ignoring all other factors)

On the information given, the OP went part time in 2021, not 2007. So the part time period under final salary accrual was one year, not fifteen. What caused the hit to their pension wasn't going part time, it was dropping down a couple of grades.

With so many variables, the complexity and potential life impact I would strongly recommend some professional advice and guidance

Sounds expensive, especially when the OP doesn't appear to have engaged the administrator for guidance yet...? The latter should probably be the first step, once acknowledgement that NHS Pensions weren't responsible for the band 4 role's working conditions sets in.

By “professional” I meant someone who’s job it is to know the actualities of the situation - ie trust pension officers,union, HR etc

monsoon67

Thanks everyone, I'm just going to have to take the hit on my pension. All hospitals within an hour's drive also have a recruitment freeze.
Realise I should have enquired about my pension before leaving the B4 job, but it took 11 weeks just to get a reply from the pension advisor last year and I wouldn't have been able to carry on working in the B4 job for months.
I think a couple of weeks' break would've helped me cope, but hindsight's a wonderful thing.
I'm looking on the bright side - at least I'll get to collect my (albeit reduced) pension at 60. Some people don't make it to that age unfortunately.

Moonwolf

There is one bit of advice in the thread you should look at.  When you take your 1995 pension you will be asked if you want to take the years from 2015 to 2022 in the 1995 scheme or the 2015 scheme. 

For most people, putting the years in 1995 is best but in a few situations putting the years in 2015 might be better.  You lose out on 7 years of payments and the lump sum will be smaller, but by the time you are 67 your total pension will be higher because the accrual rate is higher and you get a 1.5% growth bonus over inflation while you continue working in the NHS. 

You may want to put the figures on here if you are struggling to understand which is best.