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Document What is the pension input amount and how is it calculated?

The pension input amount is the growth in pension savings that occurs during a pension input period.
 
Members must add together the pension input amounts from their pension schemes in order to find the total pension input amount. The total pension input amount is then measured against the Annual Allowance.
 
 The pension input amount is calculated using the following formula:
 
closing value – opening value = pension input amount

The closing value is the value of your NHS benefits at the last day of the pension input period:
 
            Pension x 16 + lump sum* (1995 Section only)
 
The opening value is the value of your NHS benefits at the day before the start of the pension input period, which is increased by the change in Consumer Prices Index (CPI) from the previous September:
 
            Pension x 16 + lump sum* (1995 Section only) + CPI%
 
If the pension input amount is more than the Annual Allowance, the excess amount may be subject to an Annual Allowance charge.

*The separate lump sum would only apply to members of the 1995 Scheme. If you are a member of the 2008 or 2015 Scheme there would be no separate lump sum to add. This also applies to members who moved to the 2008 Scheme under the Choice exercise. Although those members do have to take a mandatory lump sum this will not be included in the Annual Allowance calculations. 
 
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