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Document Why does my Annual Allowance pension saving statement show I have nil pension growth?

A nil pension growth for Annual Allowance purposes does not mean that your NHS pension benefits have not increased. It means there is a negative difference between the opening and closing values. This could be because:
  • The pensionable/reckonable pay used to calculate your 1995/2008 NHS Pension Scheme benefits for the closing value is lower than that used to calculate your opening value.
  • The Consumer Price Index (CPI) used to increase the opening value is more than the actual growth in your NHS pension benefits.
  • You were not an active member of the NHS Pension Scheme during the pension input period.
Further information on how the Annual Allowance is calculated can be found on our website.
nil pension growth, nil growth, 0 growth

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