NHS Business Services Authority: Workplace Pensions
The question
To ask the Secretary of State for Health and Social Care, pursuant to the Answer of 28 January 2025 to Question 23857 on NHS Business Services Authority: Workplace Pensions, if he will undertake a review of the practices of the NHS Business Service Authority.
Answered by Karin Smyth
The NHS Business Services Authority (NHSBSA) has investigated the recent pension savings calculation error that affected 2023/24 Pension Savings Statements. This established that the annual consumer price index increase was incorrectly applied to the opening value of 2023/24 pension savings calculations, resulting in the Pension Input Amount being lower than it should be. In light of the findings, robust measures have been put in place to ensure this error does not happen again. NHSBSA reported the issue to The Pensions Regulator and will take any actions that the regulator may require.
We will work with the NHS Pensions Board to monitor and hold NHSBSA to account for the quality of scheme administration.
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