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The department is consulting on draft regulations to introduce the new 2015 National Health Service Pension Scheme for England and Wales.
The draft regulations will:
- introduce guidance for the new NHS Pension Scheme which will be effective from 1 April 2015
- establish the legal guidance for the reformed pension scheme
- use the results of the recent scheme valuation exercise, and the long-term member contribution rates, which are set for a 4 year period until March 2019
- introduce new arrangements for the scheme based on requirements of the Public Service Pensions Act 2013
Regulations that put in place pension scheme changes are subject to final agreement by health ministers and HM Treasury.