FAQs

If you're considering NHS pension modelling you likely have questions about the process, what’s included, and how it all works. To help you navigate your options and make informed decisions, we’ve compiled answers to the most frequently asked questions below.

NHS pension modelling is the process of creating a financial model that simulates the future value of an NHS pension based on various inputs and assumptions. This can be a useful tool for NHS pension members who are considering their career choices or retirement options and want to understand the potential future value of their pension.

There are several benefits to NHS pension modelling, including the following:

It allows members to see the potential future value of their pension based on different scenarios, such as different retirement ages or changing career & service patterns. This can help them make more informed decisions about their career choices and retirement plans.

It can help members understand the impact of different factors on their pension, such as salary increases or changes in the pension rules. This can help them plan for potential changes and ensure that they are taking advantage of all available opportunities and not sleepwalking into unnecessary taxation

It can help members and their professional advisers identify any potential gaps in their pension planning, such as inadequate retirement savings. This can allow them to take corrective action and ensure that they have a sufficient income in retirement.

It can help identify any potential errors in a member's historic pension record by reviewing historic calculations for anomalies in service patterns Overall, NHS pension modelling can be a valuable tool for members, and their professional advisers, who want to understand the potential future value of their pension as well as the implications of the McCloud remedy, lifetime allowance taxation and annual allowance taxation. Our NHS pension modelling projects your NHS pension to your chosen date of retirement. The projection considers factors such as Annual Allowance, Scheme Pays, Lifetime Allowance, as well as the McCloud remedy and Annual Allowance reassessment. We can also model any scenario too, for example the impact of a salary sacrifice lease car.

Yes, we will demonstrate the impact of the McCloud remedy rollback, which puts your benefits accrued between 2015 and 2022 back into your legacy 1995/2008 pension scheme. We will calculate the revised annual allowance position and compare against your existing annual allowance position for the remedy period.

We will also show the difference in benefits at retirement based on choosing the 1995/2008 scheme or the 2015 scheme for the benefits you accrued between 2015 and 2022.

Yes. All data is stored within Microsoft’s secure cloud ecosystem, which meets the highest industry standards for data protection. When you register with us, you’ll be given a unique SharePoint folder with two-factor authentication, ensuring only you (and our authorised team) can access your information. This means your data is encrypted, protected, and handled securely at every stage.

No, we do not provide financial advice. Our role is to provide expert technical analysis of the NHS Pension Scheme, including checking records, projecting benefits, and explaining the impact of complex rules such as the McCloud remedy, Annual Allowance, and Scheme Pays. This gives you accurate information so you can make informed choices.

We also work closely with specialist NHS financial advisers and accountants across the UK. If, after receiving our analysis, you need regulated financial advice, we can introduce you to trusted professionals who understand the NHS Pension Scheme.

DIY or Expert Support?

Modelling your own NHS pension can provide a number of advantages, such as helping improve your own knowledge of the NHS pension schemes. There is a lot of information available online to help you understand the NHS pension, such as https://www.nhsbsa.nhs.uk/nhs-pensions.

There are also online tools available, such as NHS Employers Annual Allowance Ready Reckoner. However, there are also some significant disadvantages to modelling your own NHS pension. For example, it can be time-consuming and require a significant amount of knowledge and expertise.

Additionally, there is always the risk of making mistakes or misinterpreting information, which could have negative consequences for your pension. It is important to carefully consider the pros and cons before deciding to model your own NHS pension.

What is NHS pension modelling?

What is the turnaround time for a pension report?

Does the report cover the McCloud remedy?

How many scenarios can I request?

Is there an up-front cost?

Is my data secure?

Do you provide financial advice?

Can you model taking a car lease via Salary Sacrifice, or other changes to my pensionable pay?

DIY or Expert Support?