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

Document How will I know if I am over the Annual Allowance limit?

You will automatically be sent an Annual Allowance pension savings statement if either of the following applies to you:
  • Your pension growth in either the 1995/2008 NHS Pension Scheme or the 2015 NHS Pension Scheme is more than the Annual Allowance. 
     
  • You are a transition member and the total pension growth across both the 1995/2008 NHS Pension Scheme and the 2015 NHS Pension Scheme is more than the Annual Allowance.
HMRC’s deadline date for NHS Pensions to send a pension savings statement to members who exceed their Annual Allowance limit is 6 October following the end of the tax year.
 
If you have not exceeded the Annual Allowance you can request a pension savings statement from us and we will send this within three months of your request. If you ask for an ‘On Demand’ statement before 6 July, we have until 6 October to send you a statement.

We are only able to calculate your pension growth if we receive the annual update of pensionable pay and service from your employer. If your employer sends this annual update after 5 July we will send you a statement within three months of receipt.
 
If you are a transition member who is a dental practitioner we are unable to calculate your NHS pension growth in the 1995/2008 NHS Pension Scheme until the scheme actuary has confirmed the Flexibility Value Earnings Credit (FVEC) factor. This should be received in the January after the end of the tax year.
 
If you are a medical practitioner we are unable to calculate you NHS pension growth in the 1995/2008 NHS Pension Scheme and 2015 NHS Pension Scheme until the completion of your Annual Certificate of Pensionable Profit and NHS Pensions receiving your final certified earnings for the tax year.

If your host employing authority has submitted an annual update with uncertified pensionable earnings and you have not left the NHS Pension Scheme this may result in you receiving a statement based on these ‘estimated’ earnings.

If you receive a statement prior to the completion of your Annual Certificate of Pensionable Profit you should write to NHS Pensions confirming that you have completed your certificate and request a revised statement.

A factsheet The Flexibility Value Earnings Credit and its effect on the 2015/2016 Annual Allowance is available on our website.
 
Fields
Description:
aa limit, annual allowance limit

Need more help?

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

Rate this answer