McCloud remedy
Discussion
McCloud judgement is to do with previous change in pension scheme, where the change was found to be discriminatory, and then a process to remedy the discrimination has been devised, allowing some folks to stay in the older DB scheme, rather than staying in the CARE scheme they have been placed since 2015.
some folks who have already retired can opt for contributions they made to the CARE scheme to be attributed to their DB benefit instead,
I am also led to believe that staff who have retired and returned to work, who were not previously able to build any further nhs pension will now be able contribute to the CARE scheme
However, the NHSBSA website is not an easy place to divulge info from, so hoping some pension expert might be able to shed light
some folks who have already retired can opt for contributions they made to the CARE scheme to be attributed to their DB benefit instead,
I am also led to believe that staff who have retired and returned to work, who were not previously able to build any further nhs pension will now be able contribute to the CARE scheme
However, the NHSBSA website is not an easy place to divulge info from, so hoping some pension expert might be able to shed light
sawman said:
McCloud judgement is to do with previous change in pension scheme, where the change was found to be discriminatory, and then a process to remedy the discrimination has been devised, allowing some folks to stay in the older DB scheme, rather than staying in the CARE scheme they have been placed since 2015.
some folks who have already retired can opt for contributions they made to the CARE scheme to be attributed to their DB benefit instead,
I am also led to believe that staff who have retired and returned to work, who were not previously able to build any further nhs pension will now be able contribute to the CARE scheme
However, the NHSBSA website is not an easy place to divulge info from, so hoping some pension expert might be able to shed light
I know what it is some folks who have already retired can opt for contributions they made to the CARE scheme to be attributed to their DB benefit instead,
I am also led to believe that staff who have retired and returned to work, who were not previously able to build any further nhs pension will now be able contribute to the CARE scheme
However, the NHSBSA website is not an easy place to divulge info from, so hoping some pension expert might be able to shed light
I know how it affects me, but not how it affects those already retired.
BoRED S2upid said:
The way I understand it everyone gets a decision for those years (8?) you can go back to your old scheme or stay in the current one. They will provide the calculation to enable a decision. Then once that mess is sorted out everyone starts fresh in a new scheme choice of 2.
April 2015 - March 2022.Decision doesn’t have to be made until you actually retire. As you say, calculations are provided for both schemes for those years and you can choose which is more financially beneficial to you.
Everyone is on the ‘2015’ CARE scheme as of April 2022.
rossub said:
April 2015 - March 2022.
Decision doesn’t have to be made until you actually retire. As you say, calculations are provided for both schemes for those years and you can choose which is more financially beneficial to you.
Everyone is on the ‘2015’ CARE scheme as of April 2022.
There is an alternative scheme. Decision doesn’t have to be made until you actually retire. As you say, calculations are provided for both schemes for those years and you can choose which is more financially beneficial to you.
Everyone is on the ‘2015’ CARE scheme as of April 2022.
my situation is: retired and returned in 2019, took my DB benefit, but the 2015 CARE section locked up with no more contributions until I finally retire.
I received a letter from NHS england the other day - I was only vaguely aware of this until then - my initial reading suggests that the 2015 contributions I made to the 2015 scheme up to 2019 could be moved to my DB scheme - so a cheque arriving in the post at some point - or kept where it is in the 2015 section.
I have had it suggested that the NEST contributions I have been making since returning could be swapped into the 2015 section and I could now choose to contribute to this section again
??
I received a letter from NHS england the other day - I was only vaguely aware of this until then - my initial reading suggests that the 2015 contributions I made to the 2015 scheme up to 2019 could be moved to my DB scheme - so a cheque arriving in the post at some point - or kept where it is in the 2015 section.
I have had it suggested that the NEST contributions I have been making since returning could be swapped into the 2015 section and I could now choose to contribute to this section again
??
Edited by sawman on Friday 24th March 19:27
Edited by sawman on Friday 24th March 19:27
Whilst you can decide at point of retiring which pension you want your 2015 - 2022 contributions to have gone to, you may end up owing them money as the CARE pension contributions will have been less than previously. How this is to be repaid has yet to be decided. A date in 2023 was given as the deadline for this decision to be made, but I believe up to a few months ago the discussions hadn’t even started.
And then there is the ‘hurt feelings’ compensation yet to be sorted. This might amount to a similar figure to what you owe if choosing to have your contributions in the previous scheme.
It’s all a big mess, but at least some people like me have 7 yrs contributions being put back into the previous scheme.
And then there is the ‘hurt feelings’ compensation yet to be sorted. This might amount to a similar figure to what you owe if choosing to have your contributions in the previous scheme.
It’s all a big mess, but at least some people like me have 7 yrs contributions being put back into the previous scheme.
Edited by Big Stevie on Saturday 25th March 21:26
government been told re age discrimination for years but nil done about it, older consultants and GP's have had enough with constant tax charges yearly despite having no control over how much to put in and changes to pension age 60 when i started then 65 now 68 how are you supposed to plan if pension age keeps increasing meaning older you are the more likely to get pension AA charges
as said above DNUK source of wisdom
as said above DNUK source of wisdom
Thanks all,
Not a medic so cant access dnuk
I had a letter yesterday from local payroll asking about my decision going forwards. They want to know by next wednesday which was a surprise. I think i am of a mind to chuck my existing 2015 into my 1995 but dithering about re-starting 2015 contributions - if i did restart maybe keeping the previous 2015 contributions where they are would be sensible as it gives me more in that pot- being as i am not staying till 67 i will be giving a chunk of the pot away anyway - i was expecting not to have decison to make until oct
Not a medic so cant access dnuk
I had a letter yesterday from local payroll asking about my decision going forwards. They want to know by next wednesday which was a surprise. I think i am of a mind to chuck my existing 2015 into my 1995 but dithering about re-starting 2015 contributions - if i did restart maybe keeping the previous 2015 contributions where they are would be sensible as it gives me more in that pot- being as i am not staying till 67 i will be giving a chunk of the pot away anyway - i was expecting not to have decison to make until oct
p1doc said:
government been told re age discrimination for years but nil done about it
The government was told about the age discrimination BEFORE they implemented the schemes in 2015!www.gov.uk/government/publications/independent-pub...
Back in 2011 when the Hutton report was published that resulted in the introduction of the new schemes, section 7.34 said -
"Age discrimination legislation also means that it is not possible in practice to provide protection from change for members who are already above a certain age."
So what did the government do? That's right, they put in place a scheme that provided protection from change for members over a certain age that was then challenged on breaking age discrimination legislation, and then they lost that challenge and have had to put everything back to how it was and introduce yet another new scheme that doesn't have any age protection.
You couldn't make it up.
Where rectifying this mess really is going to be 'fun and games' is dealing with those who were made redundant or took voluntary exit, particularly if they were close to age 60 or over or under 55, as the choices there are not only linked to the pension but also the compensation payments on redundancy or voluntary exit, and whether people used those compensation payments to access pensions early (and the associated tax implications). And some government departments got rid of a *lot* of people over the last few years on those terms.
It is sadly unsurprising that the Governemnt managed to cock the introduction of the new scheme.
Its probably the biggest factor driving the loss of experienced medics from the workforce and the recent budget changes to AA and LTA mean they have a 2 year window to maximise their retirement plans.
Its probably the biggest factor driving the loss of experienced medics from the workforce and the recent budget changes to AA and LTA mean they have a 2 year window to maximise their retirement plans.
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