NHS 1995 pension. Anyone knowledgeable can advise

[nevertoooldforindie]

Hi I have been looking at the recent Mcloud judgement which I believe will allow me to transfer the years 2015 to 2022 back into the 1995 section if that’s the best option. The 1995 is a defined salary pension which I think means they work it on the best of last three years. Does this mean the last three years leading up to 2022 when all pensions will be transferred to 2015 or will it be the last three years before I take the pension? Thanks ( Inhave sought advice through work but I find it very confusing and I’m counting down the years to go now

The last three years prior to taking the pension assuming you maintain continuous service.

It is the last 3 years before April 2022 as the 1995 pension will be frozen at that point. I'm in the same position of counting down.

@Saltovinegar

It is the last 3 years before April 2022 as the 1995 pension will be frozen at that point. I'm in the same position of counting down.

That’s not correct. Your final salary benefits will still be calculated as at your date of leaving.

I’ve joined a great Facebook group for NHS pensions. The defined salary link continues so it’s three years before taking the pension. Not three years before 2022. Hope you don’t have too long saltovinegar I am gutted I don’t have special officer status to retire and return at 55

Can you possibly explain this to me OP? I seem to find pensions very complicated!

@nevertoooldforindie

I’ve joined a great Facebook group for NHS pensions. The defined salary link continues so it’s three years before taking the pension. Not three years before 2022. Hope you don’t have too long saltovinegar I am gutted I don’t have special officer status to retire and return at 55

Is it the 'NHS Pensions Chat' FB group you mean?

Yes that’s the one elizaco. Excellent group.

Unfinished bunting. Yes it Isco placated. I was totally clueless until I went on retirement seminar. They should include it in schools as it’s a bit late when we get to the end of our career
Nhs currently has 3 pensions the 1995 that you can take at 60 or 55 if you have special class status. Some people opted out of this pension into a 2008 and d everyone was moved by the government into a 2015 pension. Both these can only be taken at your state pension age. Because some people who were be retiring were allowed to stay I. The 1995 scheme and we’re oven tapered protection. The mccloud judgement has stated this was unfair and everyone will now have a choice to move the years 2015 to March 2022 back to the original scheme. Everyone will be given Info near to retirement to help them decide if they want to keep those 7 years i. The 2015 scheme or move them back to 1995 conditions. The 1995 has a final salary link which total amount will be based on. I wasn’t sure if this would be three years from 2022 or from retirement. It is from retirement which I am pleased about as although full time for many years the three years to 2015 were when I returned from may leave in reduced hours. I’ll have the chance to increase my hours in 3 years leading up to retirement now. Hope that helps.

Thanks @nevertoooldforindie, that's useful. It sounds like good news generally.