NHS Pension Scheme: increased flexibility

We are consulting on a new set of proposals to offer senior clinicians more control over their pensions growth, so they can continue to provide the services that patients need.

Senior NHS clinicians are concerned that pension tax charges are making them retire early or change their working habits.

The new plans go significantly beyond the 50:50 flexibility previously proposed. The new proposals include:

• a ‘flexible accrual’ option where members can choose an accrual level in 10% increments
• the option to ‘fine tune’ pension growth towards the end of the scheme year, when total earnings are clearer