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Document How is my NHS Pension benefit growth calculated for Annual Allowance?

Pension growth or the pension input amount is determined by calculating the value of your NHS Pension Scheme benefits at the beginning (the opening value) and end (the closing value) of the pension input period.
 
For the opening value, your NHS Pension benefits are calculated to the day before the start of the pension input period.
 
For the closing value, your NHS Pension benefits are calculated to the last day of the pension input period.
 
For both the opening and closing values your NHS Pension is multiplied by a flat factor of 16, as determined by HMRC, and if you have membership within the 1995 section of the 1995/2008 Scheme this is added to your retirement lump sum.
 
The value of NHS Pension benefits at the beginning of the pension input period are indexed to reflect their current value at the end of the pension input period.
 
The pension input amount is the difference between the opening and the closing values.
 
Fields
Description:
growth calculation, pension growth

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