Item Welcome to the NHS Business Services Authority Knowledge Base, the place to ask us anything you need to know

Document How is a practitioner pension calculated in the 1995 section?

You will receive a pension based on your career earnings and a retirement lump sum. Your pension is based on 1.4% of your re-valued career earnings. This is achieved by recording your pensionable earnings for each year of membership in the Scheme and applying a revaluation factor. The revaluation factor used to re-value your earnings each year is 1.5% above the amount of the annual increase due under the Pensions Increase Acts. The resulting figure is known as your uprated earnings.

Your pension is calculated as follows: uprated earnings x 1.4%

Your retirement lump sum is normally three times the pension.
As an example, a GP retires at age 60, her earnings for each of the years as a practitioner are re-valued and added together giving an uprated earnings figure of £1,500,000. This total is multiplied by 1.4% to give her annual pension. Her retirement lump sum is three times that amount.

Her pension is: £1,500,000 x 1.4% = £21,000 per year and a retirement lump sum of £63,000

care, dynamising, gp, 1995 Calculation practitioner, practitioner Calculation, practitioner Calculation 1995, practitioner 1995
See also...

Need more help?

If this doesn't answer your question please contact us directly or search again. Search Again

Does this answer your question?