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NHS England and NHS Improvement: 2019/20 Pensions Annual Allowance Charge Compensation Policy

NHS England and NHS Improvement:  2019/20 Pensions Annual Allowance Charge Compensation Policy 

In November 2019, NHS England and NHS Improvement (NHSEI) announced that clinical staff who go over their annual allowance for the 2019/20 tax year and who use Scheme Pays to pay the tax charge can be compensated in retirement for any reduction to their NHS Pension Scheme benefits.

The announcement gave assurance to clinicians that they could undertake any combination of clinical roles for the NHS during the 2019/20 tax year, including additional work relating to the coronavirus response, without suffering any financial loss at retirement as a result of any annual allowance charges for 2019/20, including where members have a tapered annual allowance.

Clinicians in England who receive a pensions saving statement for the 2019 /20 tax year or think they may have an annual allowance charge in respect of their NHS Pension Scheme benefits, can find more information about the 2019/20 Pension Annual Allowance Charge Compensation Policy and how to apply on the NHSEI website.

We have today also published resources for employers, FAQs and infographics explaining the 2019/20 Pension Annual Allowance Charge Compensation Policy application process on the NHSEI website.

Updated on Monday, 14 December 2020, 57 views

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