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Document How are the capitalisation costs paid to NHS Pensions?

The employer pays the capitalisation costs to NHS Pensions via a One off Payment.
 
NHS Pensions will issue an invoice to the employer at the time they authorise the award. A copy of the invoice is immediately sent to NHS Pensions Finance too. Payment is due within one month of Finance receiving the invoice copy. If a response is not received within one month NHS Pensions will initiate follow up action.
 
As of the 01/04/2013 employers no longer have the option to pay the capitalisation costs via 5 instalments.
 
Please note: if member dies before capitalisation costs have been paid then costs are still to be paid in full.
 
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capitalisation costs, redundancy payment, capitalisation
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