NHS pension scheme members facing delays in Savings Statement
We are providing an important update regarding the distribution of Remediable Pension Savings Statements (RPSS) for certain members of the NHS Pension Scheme affected by the McCloud Remedy.
The issuing of RPSS remains a significant challenge. Many NHS Pension Scheme members continue to experience delays due to administrative backlogs and incomplete pension records. Accurate data is essential for calculating and releasing these statements, but widespread gaps in records are slowing the process across the board. As an example, in Scotland, we estimate that roughly 70% of GPs are yet to receive their RPSS.
Why your RPSS matters
The McCloud Remedy aims to correct age discrimination stemming from the 2015 changes to public sector pension schemes. It affects NHS Pension Scheme members who were in active service between 1 April 2015 and 31 March 2022, potentially entitling them to revised pension benefits and a tax refund.
As part of this process, RPSS are being issued to help individuals assess whether they incurred any Annual Allowance tax charges during the remedy period. However, without complete pension records, these statements cannot be produced, hampering both tax reconciliation and broader retirement planning.
Prompt action is essential
A large number of members in England are receiving notices from NHS Pensions or Primary Care Support England (PCSE), informing them of missing data. If you receive such correspondence, it is vital to respond quickly and accurately. Delayed responses can further stall the distribution of RPSS statements and increase the risk of tax miscalculations or delays in understanding your revised pension entitlement.
As for Scotland, we have no awareness of the Scottish Public Pensions Agency (SPPA) sending missing info notices. Despite this, it’s important for those operating in Scotland to ensure they are prepared for such a request and have accurate and maintained pension records.
System-wide administrative hurdles continue to affect the pace and accuracy of RPSS issue. Many individuals feel overwhelmed by the level of detail and documentation now being required. Despite the challenges, maintaining up-to-date pension records and responding promptly to information requests is crucial to ensuring the correct application of McCloud-related benefits.
We are here to help
The rollout of RPSS statements will continue as and when pension data becomes available. If you’re uncertain about what’s missing from your record or need help interpreting correspondence from NHS Pensions or PCSE, please get in touch with our Medical sector specialists. Additionally, if you have any questions in relation to a McCloud Remedy claim, we are here to support you.
