1995 Section

Currently, most members of the NHS pension will be part of this section.  However, this part of the scheme is now closed to new members and has been since April 2008.

  • It is based upon an 80th accrual rate and a final salary calculation method.  This means that for every full year of service you accrue 1/80th of your relevant pensionable pay as a pension and 3/80th as a lump sum
  • The final salary calculation is based upon the best 12 month period in the last three years
  • It has a standard retirement age of 60
  • The ability to take benefits early, from the age of 50 (depending on membership history), but there will be an actuarial penalty
  • On your death, the security of 50% of your pension paid to widow/widower/partner and a qulaifying dependents pension
  • It provides death in service of 2 x your pensionable pay
  • You pay contributions of between 5% – 14.5% of your reckonable pay
  • Pensions in payment increase in line with CPI (consumer price index)