UNISON has put together a host of information to help branches to understand the upcoming changes to pension regulations around flexible retirement.
Follow this link to find out more.
What is changing?
From 1 April 2022, all active pension scheme members in the NHS are in the 2015 Section of the NHS Pension Scheme. Many NHS staff will have accrued pension benefits in either or both of the two legacy sections(1995 section and 2008 section ).
New flexibilities coming in from 1 October 2023 mean NHS staff, who are current members of the NHS pension scheme, will have options to use their accrued pension benefits to achieve a better work-life balance. For example, to reduce their hours or take on a lower paid role and use their built-up pension to supplement their income.
Members can soon do this without needing to break their service and can continue earning and still paying into a pension.
These new retirement flexibilities apply to the NHS Pension Scheme in England & Wales and in Scotland.
They do not yet apply to the HSC scheme in Northern Ireland although they are being consulted upon now and expected to come in from April 2024.