Beware the NHS pension annualisation booby trap

24th January 2018 by Sara Chambers

Beware the NHS pension annualisation booby trap

ARCHIVE | Since this article was published on 24 January 2018, the situation regarding the legitimacy and application of annualisation has moved on.

Nestled within the 2015 NHS pension scheme for England and Wales (officially named 2015 Career Average Revalued Earnings, or CARE (!)) was the new concept of annualisation of income to determine the employee’s pension contribution tier. Annualisation was not widely publicised or understood by GPs at the time. But now there is growing alarm as its implications become clearer.

GPs in meeting the following criteria will be part of the 2015 scheme

  • already a pension scheme member on 1 April 2012 with a birthday falling on or after 1 October 1965
  • joined the pension scheme since 1 April 2012
  • re-joined the pension scheme since 1 April 2012 after a break of more than 5 years.

Join

Join to view the rest of this content, as well as access all the benefits of joining NASGP.

Join

Login

Already a member? Login to view this content.

Login

"LocumDeck is so good and so intuitive that I am lost for words and utterly filled with glee.

It can send an email confirming the sessions that are booked and creates and emails invoices direct to the practice for you. These contain links to your beautifully laid out ‘credentials’ page with all your relevant documents, and a model contract that is all ready for you to accept or edit.

It automatically produces and sends the locum form A, and will produce locum form B. It also acts as the calendar... And it all happens automatically. It is really less than a minute to invoice and do the pension forms, with everything calculated perfectly."

Dr Annette Steele

See the full list of features within our NASGP membership plans

Membership