In this second part of the new series covering the features and benefits of the 2015 NHS Pension Scheme we take a look at how much of your earnings counts as pensionable earnings.
As we have already talked about in Learning Zone (1), each year your pensionable pay counts separately towards the build up of your final pension benefits. This pensionable pay depends upon whether you are an employed NHS doctor or consultant or you are a medical practitioner.
Broadly, if you are employed by the NHS as a doctor your pensionable earnings will include your salary, wages and any other fees payable to you. Pensionable pay will exclude bonuses, payments to cover expenses and payments for overtime in excess of full time equivalent hours.
Broadly, your pensionable earnings will be as set out in the GP providers certificate of pensionable earnings.
Please note that in all cases it is your gross pensionable pay that counts towards your pension build-up. Therefore if you enter any salary sacrifice arrangement (like childcare vouchers, lease car schemes etc), this will reduce your gross pensionable pay and therefore reduce the amount of pension you can build up.