October 2024 is a crucial period due to the McCloud Remedy re-calculations which could potentially impact your Annual Allowance. The familiar, often dreaded, NHS Pension Scheme (NHSPS) Annual Allowance statements are set to return in early October 2024, with significant implications for many pension members.
This year’s statements will reflect re-calculations by the NHS Pensions Agency, affecting Annual Allowance positions dating back to 2015 as part of the McCloud Remedy. These re-calculations could affect your Annual Allowance status for earlier years as well. The deadline for issuing these statements is October 6th.
Annual Allowance statements are typically issued each October for the previous tax year. However, no statements were issued for the 2022/23 tax year due to the McCloud Remedy.