NHS England: Workplace Pensions
The question
To ask the Secretary of State for Health and Social Care, whether his Department has made an assessment of the potential impact of the abolition of NHS England on pension schemes for NHS England workers.
Answered by Karin Smyth
The abolition of NHS England is not expected to have a significant impact on the overall financing of the NHS Pension Scheme for England and Wales. The NHS Pension scheme is one the largest pension schemes in the United Kingdom, with approximately 1.8 million active members. An actuarial valuation is conducted every four years to ensure the level of contributions made by members and employers meet the full cost of their pension rights as they accrue them. Those accrued pension rights are underwritten by the Exchequer and will be paid in full when a member retires.
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