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 take steps to prevent further such errors in pension growth calculations.
Answered by Karin Smyth
Following an investigation into the 2023/24 pensions savings calculation error, the NHS Business Services Authority has assured the Department that it understands why the error happened and has put measures in place to prevent future reoccurrence. It has reviewed its calculation processes and is implementing a software fix to its pension administration system. The software fix will ensure calculations accurately reflect the consumer price index rate to produce corrected pension savings calculations.
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