Another name for the McCloud Remedy, the action taken to put right the age discrimination that happened when the 2015 Scheme was introduced differently for Legacy Scheme Members (members of the 1995 Scheme or 2008 Scheme) dependent on their age on 1 April 2012 Lots more information on the MemberZone
Annual Allowance – the maximum amount your future pension income can increase each year tax-free
No longer applies for SCS, MHO or Flexible RetirementWhen your pension is reduced, pound for pound, if your earnings on re-employment in the NHS, plus your pension income, is more than your pay was before you started being paid your pension.
Annual Benefits Statement – an annual overview of your pension benefits based on information provided to NHSBSA (NHS Pensions) by your employer, up to 31 March each year, available on My NHS Pension Portal and as part of the Total Reward Statement (TRS) on the Electronic Staff Record (ESR) for
The way your future pension income builds up – how it accrues
The amount of your pensionable pay added to your future pension income (at the Scheme’s Normal Pension Age)
Someone who is still working in the NHS and still making contributions to the NHS Pension Scheme
The extra 1.5% added to the 2015 Scheme future pension income every year you are contributing to the scheme, so your future pension income grows faster than inflation, read more here
The amount your future pension income is reduced if your retire (claim your pension income) before the Scheme’s Normal Pension Age, because it’s being paid to you for longer
When you retire (claim your pension) early, before the Scheme’s Normal Pension Age, you must be over the Scheme’s Minimum Pension Age, also known as Early Retirement (except Ill Health Retirement) and by its initials, ARER Actuarially Reduced Early Retirement | Pengage Also known as Early Retirement