The government has launched yet another pension consultation to discuss significant changes to NHS contributions.
This comes as part of the move for all members to begin building benefits in the 2015 scheme from April 2022. The 2015 scheme is based on career average revalued earnings (CARE) unlike the former final-salary schemes of 1995 and 2008.
If the consultation proposals go ahead, doctors’ contribution rates would be based on pensionable pay rather than their notional whole-time equivalent pay. Part-time members would therefore pay reduced pension contribution sums in the future.
Furthermore, the number of different levels of contributions would decrease. The highest contribution tier would be lowered to 12.5 per cent rather than the current 13.5 and 14.5 per cent.
The consultation closes on 7 January 2022 and is available to view here.