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Presumably higher interest rates have mitigated the issue somewhat? The same £x annual income has a much lower cost to provide these days given where annuity rates have gone.
ETA: I didn't think the £40k annual limit had changed, just the LTA?
NickCJ-
NHS pension is defined benefit so annuity rates don't impact.
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NHS employees going back years are mainly based on a final salary scheme.
Basically the pension is 1/80 of final salary for each year of service with max pension of 40/80 of final salary after 40 years service. So interest rates are not really an issue. Contributions are about 12-15% salary.There are variations and currently on a career average. I have 40 years of service this December so pondering what to do.
dubtap
midlife
Staff like managers and senior nurses in Agenda for Change pay band 8 got statements last year for the first time ever that indicated they were approaching the £40k limit particularly if you had years accrued in the pre-2015 final salary scheme.
That included me and a whole tier of management so if things hadn't changed the scale of the issue would have affected exponentially more non medical staff in coming years.