Changes to the state pension

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The current state pension is made up of two parts: the basic state pension and the additional state pension (the additional state pension is sometimes called the state second pension, or SERPS).

If you pay into a salary-related workplace pension, like the NHS pension scheme, you are likely to be ‘contracted-out’ of the additional state pension. If so, you and the Trust pay national insurance at a lower level.  This means you may have little or no additional state pension and you are building up a workplace pension instead.

From 6th April, the government is introducing a new state pension which will end the ‘contracting out’ of the additional state pension and will therefore mean both the Trust and the employee will pay more in national insurance contributions – likely to be 1.4% more.

For more information please visit the website.

Published 19th March, 2016 

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