NHS pensions reform modeller

Please select the following:

Career profile
or intended career:
Your current scheme: 1995 Scheme or 2008 Scheme
Your age now:

Impact on contributions and pension over retirement

Current scheme

Estimated annual pension at 60 (NPA): £43,945

plus a lump sum of £131,835 (additional lump sum can be taken by exchanging pension for cash)

Proposed scheme

Estimated annual pension at 60 (NPA): £39,358

plus a lump sum of £18,834 in relation to benefits accrued in the 1995 scheme (additional lump sum can be taken by exchanging pension for cash)

Estimated additional contributions: £133,400 Benefits would be worth 20.3% less under the proposed scheme

Impact of move from RPI to CPI for pension increases

Pension at retirement from proposed scheme: £39,358

Years from retirementReduction in annual pension (£pa)Reduction in total pension received since retirement (£)


  1. The above figures are for illustrative purposes only and are based on “typical” career profiles for Consultants, GPs, Specialty Doctors and Associate Specialists.
  2. Additional contributions and benefits paid over retirement are shown in “today’s prices”. That is, future RPI is assumed to be nil. Future CPI is assumed to be 1% lower than RPI.
  3. For the projection of pension from retirement, future RPI is assumed to be 4.6% pa (in line with September 2010 RPI) and future CPI is assumed to be 3.6% pa, i.e. 1% lower than RPI. (Actual CPI as at September 2010 was 3.1% pa.)
  4. This modeller assumes the proposed scheme will be a Career Average Revalued Earnings (CARE) scheme with an accrual rate of 1/54ths and revaluation before retirement in line with CPI plus 1.5%.
  5. The Normal Retirement Age in the proposed scheme is assumed to be State Pension Age (SPA) and has been based on SPA for males under the Pensions Act 2011 and changes announced in the Autumn Statement. SPA has been rounded to the nearest age.
  6. The modeller assumes that changes to pension accrual and contributions will increase immediately. In reality, pension accrual is likely to change with effect from April 2015 and contributions will increase over three years from April 2012 to April 2014.
  7. In determining the total benefits paid the modeller assumes an age of death of 80.
  8. Please note that benefits are being compared at your Normal Pension Age for the current scheme.
  9. For retirement before NPA in the proposed scheme, the pension is assumed to reduce in line with the reduction factors currently used in the 2008 Scheme based on the number of years early.
  10. Doctors with MHO status are protected from any scheme changes if they are age 45 or over as at 1 April 2012, and have tapering protection if they are aged 41.5 and over on that date.