If you are a member of the NHS pension, you may be aware of issues that Lloyd & Whyte and the BDA highlighted in June 2022, regarding high inflation and growth on your NHS pension, which could have caused an Annual Allowance issue. Due to lobbying from the BDA with the NHS, DHSC and Treasury, the Government has taken steps to mitigate the potential problems caused.
Whether you are in the 1995, 2008 or 2015 NHS pension scheme, the issue caused by the high inflation figures will be managed by a change in the revaluation date. The effect of this is your Pension Input amount will reflect your actual increase in benefits.
To find out more on new developments around NHS pensions, click the “read more here” button.