Flexible retirement options for NHS staff – information for branches

This article explores the options available to NHS Pension Scheme members. UNISON branches should ask their employer/s to discuss flexible working policies and seek to negotiate fair and equitable processes for applications. Members who retire must notify UNISON to update their membership to ensure they remain members. What is changing? From 1 April 2022, all active pension scheme members in the NHS are in the 2015 Section of the NHS Pension Scheme. Many NHS staff will have accrued pension benefits in either or both of the two legacy sections(1995 section and 2008 section ). New flexibilities coming in from 1 October 2023 mean NHS staff, who are current members of the NHS pension scheme, will have options to use their accrued pension benefits to achieve a better work-life balance. For example, to reduce their hours or take on a lower paid role and use their built-up pension to supplement their income. Members can soon do this without needing to break their service and can continue earning and still paying into a pension. These new retirement flexibilities apply to the NHS Pension Scheme in England & Wales and in Scotland. They do not yet apply to the HSC scheme in Northern Ireland although they are being consulted upon now and expected to come in from April 2024. What are the options? There are currently two options which we will explore in more detail. Retire and return, which has been in place since April 2023 and Partial retirement (draw down), which comes into force f...
Source: UNISON Health care news - Category: UK Health Authors: Tags: Article Source Type: news