Get a Total Reward Statement (TRS) every year
https://www.totalrewardstatements.nhs.uk
If you’ve watched our YouTube video you’ll know you need to do this every year.
Who gets your NHS Pension benefits if you die?
No really, who does? If you don’t know PLEASE complete the death benefits nomination here:
https://www.nhsbsa.nhs.uk/pensioner-hub/bereavement/what-happens-your-pension-when-you-die
If you are a Junior Doctor you can probably stop here. But you should also make sure you’ve claimed tax back on those super expensive fees and exams by reading our free guide:
https://www.medicsmoney.co.uk/free-guide/
Also, check your tax code is correct here:
https://www.medicsmoney.co.uk/is-your-doctors-tax-code-correct/
And finally, read what medical school didn’t teach us about money:
What medical school didn’t teach us about money
If you’re a Consultant, GP or other senior doctor, it’s not so simple and you should consider these further checks.
Request an Annual Allowance and service and pay extract
If you’ve not heard of an Annual Allowance and service and pay extract, don’t worry it’s relatively new. But it’s also incredibly useful and you can request one by using the contact details below:
- 0300 3301346
- [email protected]
- DM on Twitter – @nhs_pensions
Unlike a new AA statement request (details below) which can take 3 months, the Annual Allowance and service and pay extract comes reasonably quickly.
Watch this YouTube video to learn how to interpret the service and pay extract:
Consider requesting a Pensions saving statement (Annual allowance statement) using this template letter
[Your Name],
[Your Date of Birth],
[Your Address],
[Your SD Number (usually found on payslips or previous pension statements)]Dear Pensions agency,
Please could you send me an up-to-date Pensions saving statement.
Kind regards,
[Your Name]
Did you join the NHS Pension before 1st April 2015?
You should check your 1995/2008 scheme is accurate by requesting a membership statement request here:
Not sure what section you are in?
From 1 April 2022, all active members of the NHS Pension Scheme are members of the 2015 section.
But you might still have some service in the 1995 section if you first joined the Scheme before April 2008.
If you first joined the Scheme between April 2008 and April 2015 you probably have some service in the 2008 section.
If you live in England and Wales
Email:
[email protected]
Write:
NHS Pensions,
PO Box 2269,
Bolton,
BL6 9JS
If you live in Scotland
Email:
[email protected]
Write:
Scottish Public Pensions Agency,
7 Tweedside Park,
Tweedbank,
Galashiels,
TD1 3TE
If you live in Northern Ireland
Email:
[email protected]
Write:
HSC Pension Service,
Waterside House,
75 Duke Street,
Londonderry,
BT47 6FP
If you want to help yourself then watch this video that explains what it all means and what you need to do.
📺NHS Pension explained 2023 video
If you want expert help, you might be wondering where can doctors get advice from an expert who actually understands the NHS Pension?
Unfortunately the NHS Pension has become byzantine in its complexity and very few non expert advisers understand it properly.
Which is exactly why we built Medics’ Money. Our search algorithm matches your unique requirements to the best specialist medical experts.
We’ve matched over 10,000 doctors to date.
Why is Medics’ Money the best place to find an expert adviser?
Find out here: https://www.medicsmoney.co.uk/medics-money-approved/
Do I need an accountant or a financial adviser to help with my pension?
Find out here: https://www.medicsmoney.co.uk/nhs-pension-tax-problem-do-i-need-an-accountant-or-ifa/