GP contribution rates will change from 1 Oct

31st August 2022 by NASGP

GP contribution rates will change from 1 Oct

GP contributions rates for the NHS Pension Scheme will change on 1 October, accountants have confirmed.

Speaking on behalf of the Association of Independent Specialist Medical Accountants (AISMA), Abi Newbury, managing director at Honey Barrett Limited, said:

“Following the public consultation carried out by the Department of Health and Social Care (DHSC) earlier this year, it has been confirmed that changes to the contribution rates for members of the NHS Pension Scheme will come into force on 1 October 2022.

“This means that for 1 April 2022 to 30 September 2022, pensionable earnings will still need to be annualised (as they have been in previous years) to give a whole time equivalent for the period.

“NHS Pensions has confirmed that from 1 October, eleven new tier rates will come into place and contributions will be based on actual pensionable pay earned (rather than a whole-time equivalent). However, in calculating actual pensionable pay annualisation rules remain unchanged for GPs.

“There will be further changes to tier rate boundaries in April 2023 when it is expected that tier rates will reduce to six. The exact date has not yet been confirmed.”

Join NASGP’s Facebook group to ask questions about NHS pensions changes this autumn.

This article was amended on 1 Sept 2022 to include a clear statement on annualisation.

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Dr Mick Watts, GP locum, Frimley

Dr Mick Watts, GP locum, Frimley

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