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Home Industry News NHS pension reforms ‘reflect changes in working patterns’

NHS pension reforms ‘reflect changes in working patterns’

24th September 2007

The Department of Health has announced final proposals for NHS pensions, with the department welcoming the final agreement following the publication of findings from the NHS Pension Scheme Review.

Under the new pension agreement, existing staff and those joining the health service pension scheme before April 2008 will retain a retirement age of 60, which will be increased to 65 for new entrants, while the minimum age for the drawing of a reduced pension has also risen by five years to 55.

Furthermore, the changes include the introduction of earnings-related tiered contributions, cost-sharing agreements between employers and staff, survivor benefits for nominated partners for life, increased flexibility for those wanting a lump-sum payment and a purchase facility.

Ben Bradshaw, health minister, said: “NHS Employers and NHS Trade Unions have done an excellent job of listening to both staff and employers.

“The new NHS Pensions Scheme strikes the right balance between the security that staff deserve in their retirement and affordability for the taxpayer.”

He added that the plans reflect the changes in working patterns in the UK that have occurred since WWII, in addition to changes in taxation and employment legislation.

In February 2007, it emerged that NHS employers in Scotland would see increases in pensions payment following a new deal between government and the unions to protect final salary schemes for NHS staff.

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