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Practice manager's pension

Having become a practice manager business partner in July, I understand I will be treated as a whole-time officer for NHS Pension Scheme purposes, and that my final pension will be based on my last three years' earnings. The practice's accounting year ends on 30 September. By what date will I have completed the required three years as a whole-time officer and be able to maximise my pension?

Non-practitioner employees who join the NHS Pension Scheme for the first time after 31 March 2008 are in the (new) 2008 scheme section for which the pension is calculated as being 1/60th of 'reckonable pay' for each year of scheme membership.

Reckonable pay is the average of the best three consecutive years' pensionable pay in the past 10 years.

For example, if a member had 20 years' full-time service and their final reckonable pay was £25,000, their standard benefits would be a pension of £8,333 gross (taxable) a year.

It is possible to give up some of the pension at retirement to secure a lump sum payment that is free of tax under current legislation. The maximum pensionable service permitted is 45 years to age 75. Members in the 2008 section can take their benefits on or after age 65 without penalty.

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