Frequently Asked Questions
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No. The NHS Pension Scheme is a defined benefit pension. Your benefits are calculated under Scheme rules rather than by the value of an investment fund.
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Because each figure answers a different question. Annual pension income, tax-free lump sum, CETV and Pension Input Amount all measure different things.
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No. A Pension Input Amount is used for Annual Allowance testing. It is not a retirement income figure and it is not a real pension pot.
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Not necessarily. It means the figures need to be checked against your available Annual Allowance, carry forward, tapering position and other pension savings.
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Pension income is the annual amount payable from the Scheme. A CETV is an actuarial cash equivalent value used for specific purposes, such as divorce or some transfer-related contexts.