Eligibility to join the HSC Pension Scheme
The HSC Pension Scheme is open to any HSC workers aged between 16 and 75 who are:
- directly employed by the HSC
- medical, dental and ophthalmic practitioners and trainees
- general medical practice staff
- staff working for certain approved employers - Direction Bodies include independent health providers, hospices etc.
- non-General Practitioner Providers
- freelance locum medical practitioners
As a Scheme member you pay a contribution towards your pension based upon your pensionable pay; the more you earn, the higher your contribution rate may be.
There are several rates of member contribution, which are set against nationally agreed full time pay rates. If the overall cost of providing the Scheme changes, the amount you and Scheme employers contribute may also change. Your employer contributes an amount equal to 16.3% of your pensionable pay.
|Tier||Full-Time Pensionable Pay used to determine contribution rate||Contribution rate (before tax relief) (gross) 1 April 2015 to 31 March 2019|
|1||Up to £15,431.99||5.0%|
|2||£15,432.00 to £21,477.99||5.6%|
|3||£21, 478.00 to £26,823.99||7.1%|
|4||£26,824.00 to £47,845.99||9.3%|
|5||£47,846.00 to £70,630.99||12.5%|
|6||£70,631.00 to £111,376.99||13.5%|
|7||£111,377.00 and over||14.5%|
Pension contributions are taken from your pay before tax so you receive tax relief on any amount you pay. This can reduce the actual amount that you pay depending on our contribution rate, earnings level and personal rate of tax.
The HSC Pension Scheme is the default pension scheme for HSC employees to be automatically enrolled in under government efforts to increase levels of personal pension saving in the UK.
For more information about HSC pensions, please visit the HSC Pensions Website
Membership of any HSC Pension Scheme is voluntary but if you are eligible you will be automatically enrolled and made a member from the day you start or restart in the HSC, unless you decide to opt out after joining. This excludes freelance locum medical practitioners and those working for most Direction Bodies who need to opt to join the Scheme), unless you decide to opt out after joining.
From your employer’s staging date, re-enrolment date or the date you become an eligible worker your employer may automatically enroll you into this Scheme (except freelance locum medical practitioners). If you are not eligible to be automatically enrolled your employer will enroll you into an Alternative Qualifying Pension Scheme.
Before opting out of this Scheme you should carefully compare the relative cost to you and the whole package of benefits provided.