Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Pension scheme definition

What does Pension scheme mean? In legal practice, a pension scheme is an arrangement set up under a trust deed, contract or other instrument to provide retirement income and related benefits to members or their dependants. It pays or secures benefits on retirement, death, on reaching a specified age, on serious ill-health or incapacity, or in similar circumstances. In the UK, “pension scheme” is a statutory term (for example in the Finance Act 2004 and pensions legislation, with parallel Northern Ireland provisions). In Ireland, the Pensions Act 1990 and Revenue rules use comparable concepts. Usage is broadly consistent across England & Wales, Scotland, Northern Ireland...

Reformed NHS Pension Scheme 2015 (England and Wales): statutory framework, governance and funding, contributions, CARE benefits, McCloud remedy, membership, survivor benefits, flexible retirement, transfers, outsourcing and GMP indexation

Published by a LexisNexis Pensions expert

Practice notes

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What is the National Health Service Pension scheme?

The NHSPS is an unfunded public service occupational pension that delivers salary‑related, defined benefit (DB) retirement provision for health service staff.

The reformed NHSPS (often termed the ‘2015 Scheme’) began on 1 April 2015 as a career average revalued earnings (CARE) arrangement. New starters since that date have joined this scheme, which is the focus of this Practice Note.
The legacy NHSPS (the ‘1995/2008 Scheme’) consists of two separate final salary sections—the 1995 Section and the 2008 Section—both closed to future accrual, while preserving a final salary link within that scheme. For further details, see Practice Note: The legacy National Health Service Pension Scheme.

There are distinct schemes in Scotland and Northern Ireland, which are not covered by this Practice Note.

When the reformed NHSPS opened, the government acted to close the 1995 and 2008 Sections to future accrual, subject to: ...

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Paul Carney

Shoosmiths

Paul advises employers, trustees and public bodies on the legal aspects of all matters relating to pension law. Paul has particular expertise in advising on public service pension schemes and is experienced in drafting documentation for private sector schemes as well as providing ongoing advice on the day to day running of pension schemes. He also provides support to employers and trustees on pensions’ aspects of corporate transactions.Paul’s recent work includes:advising a higher education body in relation to its ongoing participation in the Teachers’ Pension Scheme, the Local Government Pension Scheme and the Universities’ Superannuation Scheme;advising the trustees of an occupational pension scheme in relation to a challenge raised in connection with changes made to the rules of their pension scheme some years earlier in circumstances where those changes may, according to applicable (and recent) case law, have been...

Web page updated on 21/05/2026

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