It should be noted that if a member has built up Pension Benefits in another NHS Pension Scheme (England & Wales, Scotland or The Isle of Man) these benefits do not automatically link with benefits built up in the HSC
Indexation and equalisation of GMP in public service pension schemes – HMT Consultation
As a consequence of the end of contracting out and the introduction of the new single tier state pension there has been much discussion about Guaranteed Minimum Pension (GMP) policy issues. Options are being considered for a long term solution
Choice 2 Exercise – Important Notice
Following consultation with the HSC Pension Scheme Advisory Board, the Choice 2 exercise has been temporarily postponed and will commence in autumn.
Important information – Scheme Pays deadline
For the tax year 2014/15 your Scheme Pays Election must be received by HSC Pension Service no later than 31 July 2016. HMRC require that elections for Scheme Pays for tax year 2014/15 have to be received by the scheme
Pension Increase
There will be no inflationary increase applied to pensions in payment, from April 2016. This is based on instructions from the UK Treasury because, in the 12 months to September 2015, the Consumer Price Index (CPI) was negative (-0.1%). Any
End of Contracting Out
The State Pension is changing to a single tier system from 6 April 2016. The introduction of a single tiered State Pension means that ‘contracting out’ will end and HSC Pension Scheme members will no longer pay a lower rate
LTA Changes
The Standard Lifetime Allowance is reducing to £1 Million from 6 April 2016 In the Summer Budget 2015 the Chancellor announced a reduction in the standard lifetime allowance from £1.25 million to £1 million from 6 April 2016, remaining at
ERRBO Update
An application for an ERRBO agreement should normally be made within three months of joining the 2015 Scheme for it to be effective from your first Scheme year. However the Department has agreed to permit any application for an ERRBO
Bogus Calls
There have been a number of incidents where HSC staff have received calls from someone purporting to be from HSC Pensions wishing to discuss changes to their pension and attempting to obtain personal financial details. You should note that HSC