FAQs Pensions can seem complicated, see a detailed list of questions and answers to help. More information. Get in touch with the Staff Hub Get your queries answered.
Eligibility If you have paid contributions to the NHS pension scheme in the 12 months prior to taking up an appointment at Imperial, you may, if you wish, elect to continue in the NHS Pension Scheme it does not matter whether or not your role at the College is clinical.
Your retirement pension is calculated by taking a proportion of your earnings in each year and revaluing them by inflation plus 1.
This scheme is closed. However, depending on your age when the new scheme above was introduced, you may still be an active member of this section. Your pension in that scheme is separate and the final salary link on this pension is still in place. You will separately be building up pension in the scheme, but this is not linked to your final salary. More information.
If your employment contract is terminated on the grounds of medical capability you may be able to draw your pension without any early retirement reduction applying for early payment, irrespective of your age. You may also be able to get an enhancement to your pension if you are unable to undertake any regular employment. More information on the eligibility and entitlement conditions. There are three potential options within the scheme for boosting your pension position.
The appropriateness of each option will depend on what exactly you are trying to achieve. View more information.
If you are a member of the scheme you will receive a tax-free cash sum of three times your annual pension value and you can still claim more tax-free cash up to a maximum limit should you choose to. If you are a member of the or schemes you can only claim a tax-free cash sum by commuting some of your pension. Your Annual Benefit Statement will tell you the maximum amount of tax-free cash that you can claim and what this would reduce your annual pension to. You should have online access to an Annual Benefit Statement ABS where you can log-in and check the value of your pension when you want to.
You can view this through Electronic Staff Records if you have access to this, or irrespective by registering through the ABS online portal. You need to ask your employer for an AW8 Form and complete the parts you are required to before returning to your employer. You do not need to complete this Form if you wish for the lump sum to be paid to your spouse or civil partner.
If you draw your pension before your Normal Pension Age, the amount you have earned at that point will be subject to a reduction to reflect the fact that you will be receiving it for longer. The exact reduction will depend upon which scheme you are in. You can view these reduction factors here. Following a number of falls in this rate which has driven up employer costs the Government is asking whether the current methodology is appropriate.
This consultation was launched following Government concerns that the Cost Cap mechanism for controlling public service pension scheme costs is not working as intended. Our response on behalf of our health care membership to the Treasury consultation on changes to the transitional arrangements to the public service pension schemes.
The information contained within this article is not a complete or final statement of the law and is based on the laws of England, Wales, Scotland and Northern Ireland. While UNISON has sought to ensure that the information is accurate and up to date, it is not responsible and will not be held liable for any inaccuracies and their consequences, including any loss arising from relying on this information. Not a member? Join now. We use cookies on our website to ensure you find the information you need in the simplest way.
By continuing to use our website you are consenting to their use. Find out more about cookies and how we use them. Coronavirus: what you need to know. Search for:. Information about the proposed changes, the potential impacts for scheme members and how employers can help inform our response to the consultation. Employers can adopt a flexible reward offer to support staff impacted by annual and lifetime allowance issues and to help protect the delivery of clinical services.
Use our new poster to promote our annual allowance ready reckoner to your staff. Flexible retirement helps staff to change the nature or pattern of their work in the lead-up to retirement, to suit their future plans. Webinar NHS Pension Scheme - pension tax Learn about how employers can help staff facing pension tax issues to support retention and service delivery.
NHS Pension Scheme webinars Listen again to our suite of webinars that focus on that focus on the benefits of the NHS Pension Scheme, flexible retirement and the retire and return options available to members of the Scheme. Watch now Arrow pointing right. NHS Pension Scheme resources to support retention. Guidance Improving nurse retention: flexible retirement guide Our guide focuses on flexible working through the lens of supporting nurses to access more flexible forms of retirement.
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