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…

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…

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…

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.…

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…

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…

Part 2: How is the pension calculated? The way in which pension benefits are calculated in the NHS Pension Scheme depends on which part(s) members belong to and whether they are ‘practitioner’ or ‘officer’ members. Practitioners GP partners, salaried GPs and locum GPs are all practitioner members of the scheme. Practitioner pensions are based on…