Last updated on July 8, 2022
When it’s time to start drawing your NHS Pension, you’ll need to make sure the correct address is registered. That’s why it’s so important to complete your NHS change of address when you move home.
Changing your address with NHS Pensions can be done when you update your NHS address and will ensure you don’t miss out on any vital correspondence regarding your pension fund and that your personal details don’t fall into the wrong hands.
In this article, we’re going to outline how to update your NHS Pension details when moving house, as well as answering all your other NHS Pension questions.
Table of Contents
What is the NHS Pension Scheme?
Before delving into how to change your address with NHS Pensions, let’s find out exactly what the NHS Pension Scheme is.
The NHS Pension Scheme is a type of defined benefit scheme that provides pension benefits based on a fixed formula.
It is a Career Average Revalued Earnings (CARE) scheme, rather than a final salary scheme, where benefits build up on the value of your pensionable earnings each year during your NHS career.
The NHS Pension Scheme is a voluntary pension scheme that is available to all NHS employees. Participants of the Scheme receive these benefits in addition to the New State Pension.
How To Notify NHS Pension Of A Change Of Address?
We know how important it is to notify NHS Pensions of your address change, but how do you do it?
If you’re still actively paying into your NHS Pension, you need to contact your employer who will update your address for you.
If you’re a deferred member (no longer paying into the pension), you can notify NHS Pensions by submitting a change of address form (COA1) which can be found on the website.
Alternatively, you can update your NHS Pension and details online using SlothMove’s change of address service. All you need to do is let them know a few extra details, including your previous address, your new address, your move date or changing yourgp.SlothMove will then do all the hard work and complete your NHS Pension change for you.
Can I Check My NHS Pension Online?
Yes, you can check your NHS Pension online. All you need to do is visit the Total Reward Statement Portal. Here, you will be able to view your pension statement.
Alternatively, you can visit the ESR Employee Self Service page if you’re part of an organisation that utilises this facility. You can either log into this service using a smartcard or using your username and password.
Your current pension statement will only be available to view until the data is refreshed. So, you should print or save a copy for your own personal records.
What Will Happen to My NHS Pension if I Leave?
Whether it’s through personal choice or a change of job, leaving the NHS Pension Scheme isn’t a decision that should be taken lightly.
If you do decide to leave the scheme, you’ll need to choose what to do with the benefits you’ve already built up during your time working for the NHS.
One option is to ‘defer’ your pension. This means, leave your benefits in the scheme and collect them when you retire. This is available to members who have at least two years of qualifying membership.
If you leave the scheme before completing two years of membership, you’ll only be able to defer your pension benefits if you’ve transferred a personal pension into the NHS scheme prior to leaving.
In some cases, you might also be able to draw your deferred benefits earlier, when you reach the relevant minimum pension age for your scheme.
Can the NHS Pension be Transferred?
If you’re leaving employment with the NHS, or just leaving the NHS Pensions Scheme, you may be able to transfer your pension rights to a new pension provider.
However, you will only be able to transfer your NHS Pension to another scheme that is registered with HMRC and is able to take a transfer payment from the NHS Pension Scheme.
If you choose to do this, your transferred NHS Pension payment is calculated by converting the value of your pension rights to a Cash Equivalent Value (CETV).
How Much Do I Contribute to my NHS Pension?
Both full-time and part-time NHS workers’ pay a percentage of their gross salary into their pension each month. This is then topped up by employer contributions.
NHS Pension contributions are based on your previous years’ pensionable earnings. Below the contribution rate is shown as a percentage of gross salary (before tax relief):
- £0-£15,431.99 – 5.0%
- £15,432-£21,477 – 5.6%
- £21,478-£26,823 – 7.1%
- £26,824 – £47,845 – 9.3%
- £47,846 – £70,630 – 12.5%
- £70,631 – £111,376 – 13.5%
- £111,377+ – 14.5%
When Can I Draw my NHS Pension?
You can start drawing your NHS Pension at what is called the ‘normal pension age’. This is the age at which you retire from working for the NHS. At this age, you can start having your pension paid without facing a reduction for early payment.
Your normal pension age will differ depending on which section of the scheme you’re in:
- 1995 section: age 60
- 2008 section: age 65
- 2015 section: state pension age
If you have built up benefits in more than one section of the NHS Pension Scheme, you can claim them when you reach your normal pension age without them being reduced.
You can retire early when you reach minimum pension age (55) if you really want to, but this will mean your benefits will be reduced to reflect the fact that your pension will be paid out for longer.
What happens To My NHS Pension When I Die?
The NHS Pension Scheme ensures your family is looked after in the event of your death. It provides a lump sum and pension benefits if something should happen to you.
You can nominate your spouse, registered civil partner or qualifying nominated partner to receive a lump sum when you die. The lump sum will be around two annual earnings.
Adult Dependants Pension
An adult dependent pension for life to an eligible spouse, civil partner or nominated qualifying partner. The benefit received is worth around 34% of the full pension.
Children’s pensions are payable for an eligible child or children under the age of 23. The benefit received is worth around 17% of the full pension.