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Document How is an Officer NHS Pension calculated in the 2008 section?

You will receive a pension based on your reckonable pay. Your reckonable pay is the average of the best three consecutive years pensionable pay in the last ten.

Your pension is 1/60th of your reckonable pay for each year of pensionable membership in the Scheme. Part years will also count towards your pension. You will have the choice of taking a retirement lump sum by reducing your annual pension.

Your pension is calculated as follows: reckonable pay x pensionable membership x 1/60 = pension

However if you opted to move to the 2008 section through choice your pension is calculated differently. In choosing to move to the 2008 section, the membership you have accrued up to 31 March 2008 may be subject to a conversion factor. If you were over age 60 years at 01 October 2009, the amount of membership you have accrued up to 31 March 2008 is reduced before being used to calculate your annual pension.  Scheme Optants will also need to use some of their pension to pay for a mandatory lump sum. The mandatory lump sum is the amount of lump sum they earned in the 1995 section up to 31 March 2008. The 1/60th Pension is reduced by £1 for each £12 of mandatory lump sum.  

If you joined the scheme after 1 April 2008 and did not move into the 2008 scheme via Choice, there are pension calculators on our website to obtain an illustration of the amounts that may be available to you.

For further information, please see the Retirement section of the NHS Pensions website.

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