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It is administered by the NHS Business Services Authority, a special health authority of the Department of Health of the United Kingdom. The NHS Pension Scheme was created in 1948. [1] The NHS Pension Scheme is made up of the 1995/2008 Scheme and the 2015 Scheme.
The NHS pension is the main pension offered to NHS staff. There have been three distinct changes made to the NHS pension. The type of pension someone is enrolled onto is referred to by the year that it was introduced or changed 1995, 2008 & 2015. [86]
Following the passage of the Old Age Pensions Act 1908 a pension of 5/- per week (£0.25, equivalent, using the Consumer Price Index, to £33 in present-day terms), [2] or 7/6 per week (£0.38, equivalent to £49/week today) for a married couple, was payable to persons with an income below £21 per annum (equivalent to £2800 today), The ...
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One common question that arises when leaving a job is whether you can cash out your defined benefit pension plan. Defined benefit pension plans, often referred to as traditional pension plans ...
Part IV in sections 69 to 101 sets out minimum protection for early leavers from their jobs before an entitlement to an occupational pension arises. Part V in sections 102 to 110 requires that pension schemes contain annual increases in line with prices, though sections 102 to 108 were soon replaced by the Pensions Act 1995 .
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NHSBSA administers the NHS Pension Scheme in England and Wales, offering services for members, employers and surviving spouses, partners or dependants. Scanning services digitise medical records from across the NHS. NHSBSA also took on NHS Jobs, the official online recruitment service for the NHS in England and Wales on 1 April 2018.