2008 Section

The 2008 Section which came into existence on 1 April 2008 has a retirement age of 65 and an accrual rate of 1/60th of final salary with no automatic lump sum. If a lump sum is required the pension would be reduced by a ratio of 1/12.

For Practitioners, the pension is calculated as 1.87% of Career Average Revalued Earnings (CARE). There is no automatic lump sum. If a lump sum is required the pension would be reduced by a ratio of 1/12.

2008 Section Death Benefits (+) Click to open

2008 Section guidance

Benefits	Death in membership (with at least 2 years membership)	Death after retirement	Death with deferred pension	Death within 12 months of leaving membership if benefits remain in Scheme
Lump sum	2 x reckonable pay or average uprated earnings for Practitioners ***	The lesser of; 5 x pension less pension already paid; or 2 x reckonable pay less any retirement lump sum taken	2.25 x annual pension the member would have received had they retired on the date of death assuming they did not take a lump sum	2.25 x annual pension the member would have received had they retired on the date of death assuming they did not take a lump sum
Adult dependant’s pension	37.5% of your notional tier 2 ill health retirement pension Short term pension payable at rate of your pensionable pay for the first 6 months	37.5% of your pension in payment* Short term pension payable at rate of member’s pension paid for fi rst 3 months or 6 months if there is at least one dependant child	37.5% of your pension at the date of death* No short term pension	37.5% of your notional tier 2 ill health retirement pension at date of leaving. No short term pension
Children’s pension**	18.75% of your notional tier 2 ill health retirement pension for 1 child 37.5% shared equally if 2 or more	18.75% of your pension for 1 child 37.5% shared equally if 2 or more	18.75% of your pension for 1 child 37.5% shared equally if 2 or more	18.75% of your notional tier 2 ill health retirement pension for 1 child 37.5% shared equally if 2 or more

* May not include any additional pension being paid.

** Higher rates may be payable if there is no survivors pension payable

*** A death gratuity lump sum is payable for members with less than 2 years membership

If you have less than two years membership and die before you leave or retire, your spouse, civil partner, or nominated qualifying partner would receive a lump sum payment and a short term pension payable for six months.

Source NHSBA SD_Guide_(V12.2)_online_05.2014.pdf

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