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Explaining the NHS Pension Scheme – Part nine

November 17, 2022, by in Accounting, AISMA, Pensions 0 Comments

Pension file with calculator, pen, coins and glass jar

Part 9: The McCloud Judgement and what it means for NHS Pension Scheme members In 2015, the government reformed public service pensions, including the NHS Pension Scheme. These reforms generated significant controversy after a Court of Appeal ruling in 2018 (sometimes referred to as the McCloud Judgement) found them to be discriminatory to younger scheme…

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Explaining the NHS Pension Scheme – Part Eight

September 1, 2022, by in Accounting, Pensions 1 Comment

Pension file with calculator, pen, coins and glass jar

Part Eight: Administration for eligible staff On top of the tasks involved in helping partners and salaried GPs meet the NHS Pension Scheme administration requirements, practice managers must also follow the procedures for practice staff who are eligible to be members of the pension scheme. All employers have general responsibilities to auto-enrol their employees into…

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Explaining the NHS Pension Scheme – Part Seven

August 18, 2022, by in Accounting, Pensions 0 Comments

Pension file with calculator, pen, coins and glass jar

Following on from parts one to six, which can be read here, we now discuss administration in part seven: Pension administration is a complex business. As well as the rules that need to be followed for the NHS Pension Scheme, there are contract requirements regarding the calculation of pensionable earnings, annual pension submissions and pension contribution…

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Explaining the NHS Pension Scheme – Part Six

July 14, 2022, by in AISMA, Pensions 0 Comments

Pension file with calculator, pen, coins and glass jar

Following on from parts one to five, which can be read here, we now come to part six, final pay controls. Part 6: Final pay controls Breaching the final pay control regulations in the 1995 section of the NHS Pension Scheme could lead to your practice being charged thousands of pounds. If you are not…

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Explaining the NHS Pension Scheme – Part Five

April 28, 2022, by in AISMA, Pensions 0 Comments

Pension file with calculator, pen, coins and glass jar

Updates post-Budget 2023 Part 5 Lifetime and annual allowance tax charges The lifetime and annual allowance tax charges are a hot topic for GPs. They have been subject to constant changes by recent governments seeking to limit tax relief on pension growth for higher earners. The most recent changes came in the Spring 2023 budget.…

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Explaining the NHS Pension Scheme – Part Four

April 7, 2022, by in AISMA, Pensions 0 Comments

Pension file with calculator, pen, coins and glass jar

Other NHS Pension Scheme benefits Previous sections of this guide have covered the benefits payable by the NHS Pension Scheme on retirement. However, the scheme also provides important benefits in the event of a scheme member dying or becoming ill, meaning that they can no longer work in their current role. No one plans for…

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Explaining the NHS Pension Scheme – Part Three

November 18, 2021, by in AISMA, Pensions 0 Comments

Pension file with calculator, pen, coins and glass jar

Part 3: Contribution rates and employer costs This part of the guide explains the NHS Pension Scheme contribution rates for both members and employers. In October 2021, proposals were put forward for changes to contribution rates. Following consultation, the changes were implemented from 1 October 2022. The agreed changes are covered here. Employer contribution The…

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