Members will soon be able to apply to reinstate remedy period service if they opted out of the NHS Pension Scheme because of the discrimination identified in the McCloud judgement.
Members will be able to use a calculator to estimate the cost of reinstating remedy period service. If they decide to go ahead with reinstating remedy period service, they’ll then need to complete and return an application form. We’ll use this to calculate the cost of buying back service and will write to members with a personal illustration showing them how much interest they’ll pay and the benefits they’ll receive for the additional service in the 1995/2008 Scheme.
Members will then need to decide if they would like to go ahead and buy back the service, and how they will pay missing contributions.
Members will be able to pay using one of the two options below:
- pay directly from their retirement benefits, either from the lump sum or by deductions to their regular pension; or,
- pay by instalments over an agreed time period that suits their budget.
Members will be able to use an instalment calculator to see what the monthly payment will be for the length of instalment plan they’d like.
Members will also be able to make a one-off payment to clear any remaining instalments at any time. A lump sum calculator will show how much they need to pay.
All calculators, guides, and supporting information will be available on our website: Contingent decisions | NHSBSA.