Following on from the informative series, delving into NHS pensions from the Association of Independent Specialist Medical Accountants (AISMA), we have now consolidated all nine parts into a fantastic free guide for you to download and keep. Does thinking about the NHS Pension Scheme give you that sinking feeling? Do you groan every time there’s an update…
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Explaining the NHS Pension Scheme – Part nine
November 17, 2022, by AISMA in Accounting, AISMA, Pensions
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…
Explaining the NHS Pension Scheme – Part Eight
September 1, 2022, by Practice Index in Accounting, Pensions
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…
Explaining the NHS Pension Scheme – Part Seven
August 18, 2022, by AISMA in Accounting, Pensions
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…
Explaining the NHS Pension Scheme – Part Six
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…
Explaining the NHS Pension Scheme – Part Five
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.…
Explaining the NHS Pension Scheme – Part Four
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…
February 9, 2023, by AISMA in Accounting, AISMA
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