In this section of the new Learning Zone series we explore your eligibility for the 2015 NHS Pension Scheme and how much it costs to contribute.
Broadly the NHS Pension Scheme is open to all NHS workers aged 16 to 75 including those doctors directly employed by the NHS and self-employed medical practitioners and also general medical practice staff.
Obviously if you have been previously protected from joining the 2015 Scheme you will still be contributing to the 1995 Scheme.
There is a cost to the NHS for providing pension benefits. This is shared between the employer and the members of the scheme. The amount you pay as a member depends upon your pensionable pay with rates being anything between 5% and 14.5%. Remember pension contributions are fully tax relievable (come off your pay before any tax is taken off).
This is a full list of the current cost of NHS Pension Contributions (pensionable pay is whole time equivalent)
- Up to £15,431 : 5%
- Between £15,432 and £21,477 : 5.6%
- Between £21,478 and £26,823 : 7.1%
- Between £26,824 and £47,845 : 9.3%
- Between £47,846 and £70,630 : 12.5%
- Between £70,631 and £111,376 : 13.5%
- Over £111,377 : 14.5%