NHS Pension McCloud remedy compensation, refunds and tips (2024) 

Hi. I retired at 49 (Jan 2020) due to I’ll health after 27 years in the NHS as a RMN. I am massively in debt so am hoping that the adjustments can cover it. The correction cannot come soon enough for me. I was in the 1995 scheme when I started employment in 1995. 🐱

Nice to see a different perspective on the McCloud remedy as I am affected and part of the Armed forces McCloud remedy. Thanks for sharing publicly.

Excellent video, you make it very understandable, you all know your stuff!! I just hope the options letters make it very clear whether its best to take the remedy years in 95 or 2015. Keep up the videos and podcasts 👊🏻

Validated my understanding, I am part of public sector admin authority, implementing Mcloud and Matthews Remedy.

Does Laura has her own RU-vid channel. I think this was so informative session. I am nit a doctor but been in NHS and NHS pension. Seeking a individual advice.

Question: fast forward to Oct 24 - you get your new pension input statements and you find you have overpaid Tax during the remedy and so you claim and receive refund (or see a reduction in Scheme Pays Debits). On retirement if you choose the 2015 scheme do you then have to pay back the Tax that you had refunded and submit a new scheme pays....ie revert to the old one?

Thanks, does the remedy affect doctors starting on the NHS pension in August 2012? Will these not have started on the 2008 scheme and been moved to 2015 also?

I'm in both the 95 and 2015 sections. I will be retiring fully in 3 year's time. I have been advised to take flexible retirement now and claim from the 95 pension pot (before May and a possible election and Labour victory and reinstating of the the Annual Allowance pain). I understand some Trusts are refusing to allow this because of 'operational' reasons. Is this allowable? Are they not obliged to let me access what is after all my money. As my advisor said, if you had a private pension/investment that matured when you reached a certain age, nobody can/should stop you fromaccessing your investment. Great channel BTW.

I was medically retired by the NHS in March 2020 on a Tier 2 pension, at age 57 and 3 months approx. I was paid out using the 1995 scheme. My years were raised by 2/3rds to age 60. So I got 2 more years taking me to 30 years. I thought I would get part 1995, and part 2015, with the latter having a normal retirement age of 65, or, whenever you get your state pension, whichever is the higher. So, in my case, 67. Where do I stand now?

GP partner here. I left the 1995 scheme at the age of 51 in 2020, taking my benefits( (actuarily reduced),under the 1995 scheme. I have accrued benefits under the 2015 scheme up my retirement date of 4/2/2020. Will I be given the option of taking all my benefits held under the 2015 scheme now, lump sum and all? How may this affect my annual allowance and or tax position during this remedial period?

Excellent discussion. Very helpful.

What happens now if i wish to leave and MARS comes in. Can i buy back years on my 1995 scheme now? As McCloud has been greyscale on how it works. Pension Officer in the NHS have little info that they are sharing with NHS STAFF. Some say you can only buy £250 slots into 2015 scheme only. Yet surely we should be able to buy back into 95 scheme.

Hello, If I want to retire at 58 years old, in 2030, after 35 years (plus two years purchased added years= 37 years) do you expect that it would be better for me to use the McCloud remedy to maximise the pension available to me at 60 (my legacy 1995 scheme pension)? I understand that because of inflation protection and CARE these the 2015 scheme may have had higher growth; however, it’s not available to me until I am 67. Thanks Tommy Ps I hope you hand is getting better

I asked return of my NHSpensions contribution and they said no as am in continuous job

Will this effect pensions in N.ireland and Scotland ??

I stopped buying added years I. 2016 because of the pension changes. Can I buy them back, given McCloud!

My mother is in the 1995 scheme and has worked for the NHS for 32 years; should she take her pension in full or as a lump sum?

I was asked to choose. I have no advice or clue. I was given no advice. NHS didnt help. No help online. Cant afford a financial advisor. I guessed. I hope I guessed correctly. Feel really let down by NHS pensions. They are THE worst company I have ever had the misfortune to deal with in my life.

I opted out of the NHS pension in 2016, given the AA issues etc, and set up a limited company for my GP earnings. Given the McCloud remedy, can I argue that I should be able to make NHS pension contributions retrospectively? Thanks for all you do!

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is that a cat? It's supposed to be a cat, ok?

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