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Understanding your benefits in the 2015 Scheme

​From 1 April 2022, all members of the NHS Pension Scheme will be members of our 2015 Scheme.

The 2015 Scheme is a Career Average Revalued Earnings (CARE) scheme. This is a form of defined benefit pension scheme.  

When you take your pension benefits, you’re guaranteed to be paid a defined amount of pension benefits. In a CARE scheme, this amount is calculated based on your pensionable pay throughout your career.

Each year, the amount of pension you earn is calculated based on your actual pensionable pay in that Scheme year. This amount is then increased (known as revaluation) every year until you retire or leave the Scheme. Your final pension amount is the total of all of these revalued pots from each year of your membership added together.

Once your pension benefits are payable, your pension will be subject to an increase each year based on the consumer price index (CPI). This is decided by HM Treasury.

Read more about the 2015 Scheme and how your pension is calculated in our 2015 member guide (PDF: 2.64MB).

Benefits of the 2015 Scheme

Watch this video to understand more about the important benefits of being a member of the Scheme such as:

  • employer contributions
  • annual increases to your pension
  • family benefits
  • ill health benefits
  • ways to increase your pension
  • flexibilities about when you can take your pension

Download the video transcript (PDF: 98KB)

More information about Pension Schemes

If you also have membership in the 1995/2008 Scheme, you can find out more about the different Schemes.

Read more information on the public service pensions remedy - McCloud, and how members of the 1995/2008 Scheme who had full protection moved to the 2015 Scheme on 1 April 2022.