Act now to ensure your pension plans stay on track
You are probably aware that a package of changes to the NHS Pension Scheme were implemented in April 2008 and it now has two sections. Members of the Scheme on or before 31 March 2008 are in the 1995 Section, while staff that joined from 1 April 2008 are in the 2008 Section.
The option to transfer all existing and future benefits to the 2008 Section is now being offered to members of the 1995 Section. This is known as the NHS Pension Choice Exercise.
All eligible members will be sent an NHS Pension Choice Pack. There are a number of differences between the two sections and the decision to transfer will be dependent upon your individual needs and requirements.
Key questions to answer
- At what age are you planning to retire?
- Would you be interested in taking your benefits before 55?
- Is your pensionable pay likely to reduce in the ten years before you retire?
- Are you likely to leave the scheme before taking benefits?
- Are you making extra contributions for Added Years?
It’s never too early to plan for your retirement. Through dealing exclusively with your profession, our Financial Consultants have an in depth knowledge of the NHS Pension Scheme and the key decisions you face.
By booking a no-obligation appointment, your local Financial Consultant can guide you through NHS Pension Choice, looking at your specific needs and advise on the right Section for you, together with any additional financial decisions you should make for the future. This will ensure that when your pack arrives, you are well prepared and completing the process will be hassle-free.
Simply complete this form, email financialreview@wesleyan.co.uk or call 0800 294 9003.