New HSC Pension arrangements were introduced on 1 April 2015. The main features of the new scheme include:

  • A Career Average Revalued Earnings (CARE) scheme, with benefits based on a proportion of pensionable earnings during your career
  • An accrual rate (i.e. the rate that your pension builds up) of 1/54th of each year’s pensionable earnings with no limit on pensionable service. This is a higher accrual rate than both the 1995 and 2008 sections of the HSC Scheme
  • Revaluation of active members’ benefits in line with the Consumer Price Index (CPI) plus 1.5 percent per annum
  • A normal pension age at which benefits can be claimed without reduction for early payment linked to the same age as you are entitled to claim your State Pension
  • Pensions in payment to increase in line with inflation (currently CPI).
Overview of 2015 Scheme

Protection Arrangements

Most existing members of the current HSC Scheme (both the 1995 and 2008 sections) will move to the new scheme on 1 April 2015, however, there are protection provisions for certain members who have reached, or are close to reaching, their current normal pension age.

Any pension rights members have built up in the 1995 Section or 2008 Section of the HSC Pension Scheme prior to moving to the new 2015 Scheme will be protected and will continue to be calculated on final salary at retirement.  These benefits are known as preserved rights.

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If you have any HSC Pension Service queries regarding Pension Reform, please email your enquiry to hscpensions@hscni.net.