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

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.
 
Fields
Description:
capitalisation costs, redundancy payment, capitalisation

Need more help?

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

Rate this answer