Loss of enhanced protection and fixed protection in 2015 pension scheme

If you have or are building a large pension pot, please note that the NHS 2015 pension scheme may affect your lifetime allowance.

The 2015 NHS pension scheme has been registered as a new ocupational pension scheme with HMRC. As it is a new scheme, rather than a new section of an existing scheme, HMRC have confirmed that enhanced protection, fixed protection 2012 and fixed protection 2014 will be lost when a member joins or moves to the 2015 scheme and starts paying pension contributions.

If you want to safeguard against the loss of any of these protections it is possible to opt out of the 2015 scheme, but this must be done at the correct time.

This will only affect a handful of staff, who are either in a very senior post, or if you have a large pension pot outside of the NHS. Unfortunately the Trust is unable to identify individuals who may be affected as this information is kept with NHS pensions.

Please read the full details in the briefing from NHS pensions.

Published 17th March 2015