
The NHS 2015 scheme builds a pension of 1/54 (about 1.85%) of your pensionable pay each year, revalued by CPI plus 1.5% while you work. So 30 years on GBP 35,000 average pay builds roughly GBP 19,400 a year, payable from your State Pension age. It is a defined benefit promise, not a pot.
What the NHS 2015 scheme pays (annual pension, today money)
| Average pensionable pay | After 20 years | After 30 years |
|---|---|---|
| GBP 27,000 | GBP 10,000/yr | GBP 15,000/yr |
| GBP 35,000 | GBP 12,963/yr | GBP 19,444/yr |
| GBP 45,000 | GBP 16,667/yr | GBP 25,000/yr |
| GBP 60,000 | GBP 22,222/yr | GBP 33,333/yr |