HSC Pension Service administers two pension schemes, the HSC Pension Scheme and the HSC Pension Scheme 2015.

This section of the website provides information for Practitioners, Locums and Non-GP Providers

Scheme Forms

Scheme Factsheets

Scheme Guides

Feature or Benefit

 

Practitioners

(HSC Medical and Ophthalmic Practitiones)

All HSC Workers and Approved Employer Staff for information only
Scheme 1995 2008 2015
Member Contributions

Tiered Contribution Rates

Type of Scheme Earnings Accrual. The final value of pensionable earnings after adding all years’ earnings and applying revaluation factors. Earnings Accrual. The final value of pensionable earnings after adding all years’ earnings and applying revaluation factors.

 

Career Average Re-valued Earnings based on a proportion of pensionable earnings in each year of membership.
Pension A pension based on 1.4% of total up-rated earnings. A pension based on 1.87% of total up-rated earnings. A pension worth 1/54th of each years’ pensionable earnings, re-valued at the beginning of each following scheme year in line with the Consumer Price Index plus 1.5% whilst in active membership.
Retirement Lump Sum 3 x pension. Option to exchange part of pension for more cash up to 25% of capital value. Option to exchange pension for a lump sum, up to 25% of capital value. Certain members may have a compulsory amount of lump sum. Option to exchange part of pension for a lump sum up to 25% of capital value.
Normal Pension Age 60 65 Equal to an individuals’ State Pension age.
Maximum Age 75 75 75
 

Maximum Membership

 

 

 

45 years

 

No limit

Minimum Pension Age Age 50 if joined pre 06/04/2006 and not had a break of 5 years or more, otherwise Age 55. Age 55 Age 55
Actuarially Reduced Early Retirement Yes Yes Yes
Late Retirement No late retirement factors applied. Late retirement factors applied to pension earned before Age 65 Late retirement factors applied to all pension earned until retirement.
Pensionable Re-employment following payment of pension Only available to eligible members who retire from active membership following ill health retirement who re-join prior to age 50. Yes if eligible Yes if eligible
Partial Retirement No Yes Yes
Ill Health Tier 1 Accrued benefits paid without reduction Accrued benefits paid without reduction Accrued pension paid without reduction
Ill Health Tier 2 Tier 1 plus an enhancement of 2/3rds of prospective membership to NPA Tier 1 plus an enhancement of 2/3rds of prospective membership to NPA Tier 1 plus an enhancement of 1/2 of prospective pension to NPA
Increasing your Pension Purchase of Additional Pension in units of £250 Purchase of Additional Pension in units of £250 Purchase of Additional Pension in units of £250

If you require an estimate of pension benefits and you have previous or current officer service, please contact us and your payroll department to request an estimate.  Tell your payroll department that you have practitioner service so that they can process the request for you.

If you require an estimate for Individual Protection 2014 please complete form GP IP2014.

If you require an estimate for Individual Protection 2016 please complete form GP IP2016.

If you are applying for scheme benefits please complete form .

All forms are available under Scheme Forms.

Our schedule of charges can be viewed by clicking on the link below:

Schedule of Charges

 

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