Retirement and Pensions

The default retirement age was relaxed in the UK in 2011. This means that in theory, staff can continue to work as long as they like unless the employer can objectively justify enforcing an earlier retirement age.

Pensions remain a hot topic in the UK, with changes to schemes regularly in the news – the NHS Pension Scheme being one of them over the last few years.

If you are not clear what this means for you, contact one of the IDU team ad we will happily explain it to you.

Also, even though the NHS has a well established pension scheme, it is affected by the requirements of new pensions’ legislation in the UK requiring all employers to automatically enroll qualifying workers into a pension scheme into which the employer must contribute. The date by which NHS employers must comply with this requirement varies according to the size of the individual Trusts, but dates range from as early as October 2012 to a series of dates in 2014. NHS Trusts will therefore need to offer the established NHS Pension Scheme as well as a separate scheme into which they can automatically enroll staff – NHS Trusts are required to appoint appropriate pension providers through formal processes to meet these new requirements.

If you are thinking of retiring, whether that’s retiring before you are entitled to a full occupational pension via the NHS Pension Scheme or whether you’re in the lucky position of having accrued full pension benefits, you can talk to the IDU before you make your decision.

As with all trade unions, we cannot give you financial advice about your pension. This is regulated by UK law and must be given by an independent financial advisor. But we can give you information and explain the facts about the pension in the NHS, which is often a minefield.

We can also advise you whether any of the special provisions for early retirement in the NHS apply to you.

We will happily point you in the direction of an independent financial advisor if you wish.

We’ll give you timely, accurate information to inform your decisions.

Join us – you won’t regret it.