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Document How does my CARE pension work?

In a Career Average Revalued Earnings (CARE) scheme, your pension is based on your pensionable pay throughout your career. Your pension will be calculated for each year separately then increased by a set revaluation rate (linked to inflation). Your final pension is calculated by adding together the pension earned for each year of membership. The amount of pension you earn each year is determined by a factor known as the ‘accrual' or 'build up' rate and is usually shown as a fraction of your pensionable pay. In the 2015 NHS Scheme the accrual rate is 1/54th.

An example of how CARE works can be found on the 2015 Member Guide on the NHS Pensions website.
CARE, care calculated, care
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