Research and analysis

2024 Valuation - NHS Pension Scheme (England and Wales)

The Government Actuary's Department has completed a valuation of the NHS Pension Scheme (England and Wales) as at 31 March 2024.

• From: Government Actuary's Department
• Published: 3 July 2026

Documents

Summary

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Overview

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Approach

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Data

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Assumptions

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Results

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Climate Risk

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Glossary

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Details

At the request of the Secretary of State for Health and Social Care, the Government Actuary’s Department carried out an actuarial valuation of the NHS Pension Scheme (England and Wales) as at 31 March 2024. The valuation has been undertaken in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2023 as amended by The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions 2026, which specify certain assumptions and require other assumptions to be the Secretary of State for Health and Social Care’s best estimates.

Published 3 July 2026