August 8, 2008

NHS Pension Scheme Contributions - New Banding Tiers (Hot Topics Q&A)

QuestionMark.jpgQ. I am quite a highly paid Consultant earning around £113,000 pa in the NHS.

Looking at my latest payslip I was surprised to see that my NHS Pension contributions have risen markedly.

In March they were £565 per month, but in June they had gone up to £800!

I remember reading something about this, but is this correct?

A. Yes this is correct.

As part of the overall review of the NHS Pension Scheme, NHS Pension 
contributions increased in April. You have been used to paying 6%, but at
your level of earnings this will now be 8.5%.

The scales are 6% up to £19,682 - 6.5% up to £65,002 - 7.5% to £102,449 - 8.5% thereafter. Although these are banded, you pay the full amount at   whatever your salary is - sorry!

You can get full details at the NHS website

Filed under Q&A, UK Resident Dentists, UK Resident Doctors by Graeme Urwin

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