PENSIONS – SERPS/PENSIONS – STATE SECOND PENSION
Synopsis: DoH publishes draft Regulations on introduction of 2015 NHS Pension Scheme.
Date posted: Monday, November 17, 2014
The Department of Health (DoH) is consulting on draft regulations relating to the introduction of the 2015 National Health Service Pension Scheme for England and Wales. The consultation closes on 25 November 2014.
The documentation includes:
Draft National Health Service Pension Scheme (Transitional & Consequential Provisions) Regulations 2014, here;
Consultation Document & Explanatory Notes, here.
ensure that transferring members, and new members of the 2015 scheme, remain in contracted-out employment until contracting-out ends in April 2016
prevent members of the current scheme from gaining rights as ‘early leavers’ under that scheme when they transfer to the new scheme. Transferring members will be treated as if they remained active members of the old scheme until they leave pensionable service
change the tax regime in respect of ill-health benefits to prevent the same benefits from being assessed against tax twice, and ensure that members do not experience any unexpected tax consequences
Regulations that implement pension scheme changes are subject to final agreement by health ministers and HM Treasury.
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