15 / 8 / 2014 9.15am
Making use of the flexibilities within the NHS Pension Scheme has been known to help organisations retain experienced staff, increase the size of recruitment pools, give employees greater choice for their retirement and maintain equality of opportunity. They also undoubtedly help employers plan effective strategies to manage an ageing workforce.
The flexibilities within the NHS Pension Scheme include:
- Wind down - an alternative to retiring. Staff can opt to wind down by working fewer days or hours in their current post
- Step down - staff who would like to give up the pressure and responsibilities of their current role can step down into a less demanding lower graded post
- Retire and return to the NHS - staff who have reached the minimum retirement age can opt to retire, take all their pension benefits and return to NHS employment
- Draw down - this is only open to members of the 2008 section and allows members to take part of their pension benefits whilst continuing in NHS employment.
We would like to hear about your experiences of using the flexibilities within your organisation, what you did and what benefits you have seen as an employer and for your employees.
We will be producing a range of shared learning for employers to promote the use of the retirement flexibilities available in the NHS Pension Scheme.
If you are interested in being involved, please call Emma Brown on 0113 3063203 or email email@example.com.
You can find out more about pension flexibilities on our Flexible retirement webpages.