The Department of Health has launched a consultation on proposed changes to the NHS Pension Scheme.
These proposals include:
- Increases to employee pension contributions. The NHS is moving in to the final year of the three-year increases to employee contributions. The consultation outlines the proposed increases for 2014/15, which will come in to effect from 1 April 2014.
- New scheme access arrangements for independent providers. Under proposed arrangements, independent providers that meet certain criteria will be able to offer access to the NHS Pension Scheme to staff in their organisation who are carrying out NHS-funded clinical services.
- Changes to the lifetime allowance limit. The Finance Act 2013 proposed a reduction to the lifetime allowance limit from the current £1.5 million to £1.25 million with effect from 6 April 2014.
The consultation will close on 10 February 2014.