Returning to work after retiring from the 1995 NHS Pension Scheme
A commonly asked question from members of the 1995 pension scheme is ‘can I return to NHS work after I retire?’. The short answer to this question is yes you can. However there are certain restrictions that you must abide by if you choose to do so, which are the following:
However if you find these restrictions unsuitable for you, there are alternative options available. If you are currently a member of the 2008 Scheme and possess deferred benefits from the 1995 Scheme, you are able to claim the benefits entitled to you whilst maintaining your contributions towards your 2008 Scheme. In this scenario you will not be required to restrict your working hours or to take a 24 hour break from your current NHS job.
You can alternatively take a full calendar month off of work immediately after retirement in order to be relieved of the above restrictions.
If you do intend to return to work you would need to state this on the AW8. Your employer would then complete form AW140 and send it to Paymaster as confirmation of you meeting the above requirements.
Special Class and Mental Health Officer members are subject to additional restrictions. If you return to work before reaching the age of 60 and fall under either of these titles you will be subject to Abatement, which will disallow your new earnings plus your NHS pension benefits to exceed your pre-retirement earnings.
Further restrictions apply if you have been retired on the grounds of ill health. Those that fall into this category, are in receipt of Tier 2 pension and become re-employed (including outside the NHS) should also read the ‘Ill Health Retirement- Returning to work with a Tier 2 pension’ factsheet. This provides in-depth information on the restrictions associated with returning to work after retirement on the grounds of ill health.
The above still applies even if you are retiring from NHS in England and then returning to NHS employment in Scotland / Ireland.
For all of your NHS Pension planning please contact Richard Higgs, Chartered Financial Planner for doctors in Bristol on 0117 966 5699 or email him on firstname.lastname@example.org or through the website at www.wealthwestmedical.co.uk.