NHS Pension Scheme

Unlike a growing number of schemes today, the NHS Pension Scheme for medical professionals provides a very valuable indexed retirement income. It's based either on a combination of the number of years worked and your final salary or, the career average revalued earnings (CARE) system.

The scheme also has a number of other benefits including pensions for surviving partners, death in service benefits, allowances for dependent children and ill-health retirement.

Key Issues Facing NHS Pension Scheme Members

Over the last few years, the NHS has been working through major changes to the NHS Pension Scheme. As a result, key considerations for doctors and dentists in the scheme include:

• Do you stay in the old scheme or transfer to the new scheme?
• How does the new reduced annual and lifetime allowance affect you?
• Should you elect to protect your lifetime pension allowance?
• How can you leverage the new pension legislation in your financial plans?
• How do Lord Hutton's Pension Report recommendations affect your NHS Pension?
• Is retiring at age 60 a pipe dream or reality for doctors and dentists?

Our Retirement News & Views articles address all these questions and others. 

Reviewing Your NHS Pension with Legal & Medical 

With our extensive experience in dealing with the NHS Pension Scheme, your L&M financial adviser can provide you with a comprehensive review of your NHS pension that will include:

• A projection of your benefits incorporating factors specific to doctors and dentists that change the impact of the forecast
• Ensuring that your service history is correct – a critical factor as the pension is, at present, invariably based on your length of service
• Strategies to increase your pension provision either within the NHS or outside, or a combination of the two
• Strategies should you wish to take early retirement, increase your tax free lump sum or make additional voluntary contributions to your NHS pension
• Your opinions regarding the NHS Pension Scheme and a review of any other pension contracts that you have in force

It is worth noting too that, since the introduction of the new NHS Pension Scheme on 1 April 2008, anyone joining from this date will have different benefits and a different age at which normal retirement can be taken. NHS Pension Options

Summary of Changes to the NHS Pension Scheme

(by the BMA)

To find out how Legal & Medical can help you choose an approach that provides you and your family with a safe and relevant retirement income, contact us today or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

The tax reliefs referred to throughout this website are those currently applying in the United Kingdom to UK Tax Residents. These tax reliefs are liable to change. The value of any tax relief available will depend upon the individual circumstances of the taxpayer.