Overview
There are three schemes within NHS Pensions - 1995, 2008 and 2015. The scheme you join will depend on when you joined the NHS Pension (if you’ve already joined). If you’re new then you’ll likely be joining the latest 2015 scheme. If you’ve already joined NHS Pensions in a previous job, this may differ.
The scheme you join is important because it affects the amount you get during your retirement, the age you can access your pension, and other benefits of an NHS Pension.
How much will I pay in
The amount you contribute to your pension each month is based on how much you earn. This amount is pro-rated to a whole time equivalent (WTE) if you only work part-time.
Pensionable pay (WTE) / earnings used to assess contributions rate | Contribution rates from 1 April 2024 |
Up to £13,259 | 5.2% |
£13,260 to £26,831 | 6.5% |
£26,832 to £32,691 | 8.3% |
£32,692 to £49,078 | 9.8% |
£49,079 to £62,924 | 10.7% |
£62,925 and above | 12.5% |
For more information please see: Cost of being in the Scheme | NHSBSA
How much will I get out
This is a defined benefit scheme, which means that what you / your employer pays in will likely not be equivalent to what you receive out of the pension.
Depending on which exact scheme you are in, your pension payout will be based on the following:
- Career average re-valued earnings (2015 scheme) - your pension is calculated using your average salary over the entire membership.
- Earnings accrual (for practitioners in 2008/1995 schemes) - your pension is calculated using your average salary over the entire membership, and applying re-evaluation factors.
- Final salary (for other staff in 2008/1995 schemes) - your pension is calculated using your final salary when you retire.
Eligibility
As employees of a GP surgery, you are most likely eligible to join NHS Pensions (if you’re between 16 and 75 years old). There are some specific reasons that you might not be eligible (e.g. if you’re already working full-time at another NHS employer), but this is unlikely to be the case. We’ll let you know specifically if we think you might not be eligible.