McCloud latest – deadline extension for new ‘Choice’ exercise

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Did you receive a letter from the NHS Pension Agency earlier this year regarding changing the decision you made about your pension when the 2015 scheme was first introduced?

If so, the deadline to reconsider your previous NHS pension decision has been extended to 18th June 2024.

The extension is welcome but still does not leave much time for busy medics to consider the important matters.

The original ‘Choice’ exercise gave all eligible members of the NHS pension the option to move from the 1995 section into the 2008 section when it was introduced. Then, when the 2015 section was launched, ‘Choice 2’ gave members who had remained in the 1995 section another opportunity to move.

Members now have the option to reconsider their original ‘Choice 2’ decision. This is because they may have moved to the 2008 section due to the retirement flexibility it offered – but now those flexibilities are available via partial retirement.

You therefore need to decide if you moved your 1995 section benefits to the 2008 section, would you like to move the benefits back?

If you need specialist advice on this or any other NHS matter, please get in touch.

Approver Quilter Financial Services Limited and Quilter Mortgage Planning Limited 29/05/2024

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