Briefing

Annual allowance briefing

Our briefing has been updated to reflect the changes to the annual allowance taper announced in March 2020.
Pensions

26 March 2020

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Annual allowance is the amount of pension savings an individual can make in one year without paying tax. The value of the annual allowance has fallen over time, meaning that a wider range of NHS staff could now earn benefits which exceed the allowance.

The following information is included in the briefing:

  • What is annual allowance?
  • Who is likely to be affected?
  • How are benefits in the NHS Pension Scheme tested against annual allowance?
  • The options for affected staff.
  • How NHS Pensions will communicate if annual allowance is breached.
  • The deadlines for employers and employees.
  • Responsibilities of members, employers and NHS Pensions.

We have a wide range of resources available on our pension resource library.

Please tell us what you think about our products and resources by emailing pensions@nhsemployers.org.