The NHS Wealth Roadmap
A good start to financial and retirement planning, for those who do not need in-depth analysis of NHS Pensions.
“I don’t want to work until 67.”
You have probably thought it. But do you know what would need to be true for you to reduce your hours, take partial retirement or stop working sooner?
The NHS Wealth Roadmap helps consultants, GPs, dentists and senior NHS professionals understand their NHS Pension and explore how it fits into their wider retirement plans.
Using your information, we help you map the questions, figures and decisions that matter, so you can move forward with better evidence and less guesswork.
Book a Free Discovery Call. 30 minutes. No obligation. If the Roadmap is not the right service for you, we will tell you.
Your annual pension statement is a starting point.
It is not your retirement plan.
Your Total Reward Statement or Annual Benefit Statement gives you an estimate based on the information held by NHS Pensions - but it is not always reliable.
It does not automatically tell you:
Whether your service history is complete
How different Scheme sections fit together
What reducing your hours could mean
How early retirement reductions may affect your benefits
How Scheme Pays may affect your future pension
Whether income from your pension, savings and other assets may support the life you want
Which questions require further specialist or regulated advice
NHS Pensions can explain the Scheme rules. Payroll can supply employment information. Your accountant can help with tax reporting. But none of them is responsible for bringing your pension, working life and wider finances together into one clear picture. That is what the NHS Wealth Roadmap is designed to help you begin.
What the Roadmap helps you understand:
Your NHS Pension
We explain how the parts of your NHS Pension may work, including relevant 1995, 2008 and 2015 Scheme benefits.
We help you understand the information shown on your statements, what may be missing and which areas may need further investigation.
Your retirement options
We explain the principles and trade-offs around:
Normal and early retirement ages
Early retirement reductions
Lump-sum choices
Partial retirement
Retire and return
Continuing to work after taking benefits
Annual Allowance and Scheme Pays
We help you understand:
Why an Annual Allowance charge may arise
What a Pension Savings Statement is telling you
The purpose of carry forward
How Scheme Pays works
Which deadlines and documents may matter
When an accountant, tax adviser or regulated financial adviser is needed
When you may need more support, and it’s the right time to move into The Retirement Programme
Your retirement income timeline
Using the information available, we build an illustrative picture of how your income and expenditure may change at different ages.
This could include exploring what your position might look like if you:
Reduce your hours
Take partial retirement
Retire earlier or later
Continue working in a different capacity
Use savings or other income to bridge a gap
Build greater financial flexibility outside the NHS Pension
The modelling is educational and illustrative. It is not a guarantee or personal financial recommendation.
What you receive
The NHS Wealth Roadmap includes:
An initial Discovery and Goals Session
Understanding your NHS Pension based on your Scheme membership
Review and explanation of the pension information you provide
How to manage Annual Allowance and Scheme Pays, where relevant
An illustrative retirement-income timeline
Exploration of agreed working and retirement scenarios
A written NHS Wealth Roadmap
A prioritised list of questions and next steps
Twelve months of financial coaching
Your written Roadmap will help you see:
What you currently know
What still needs to be confirmed
Which decisions may be approaching
Which documents you need
Which professionals may need to be involved
What to address first
Who is the NHS Wealth Roadmap for?
The Roadmap may be suitable for you if:
You are a consultant, GP, dentist or senior NHS professional
You have benefits in the 1995, 2008 or 2015 Scheme
You are unsure how your different Scheme sections work together
You have received, or expect to receive, a Pension Savings Statement
You want to understand Annual Allowance and Scheme Pays
You are considering reducing your hours or responsibilities
You want to explore partial retirement or retire and return
You want to understand whether retiring earlier may be financially realistic
You want a clearer picture before deciding whether you need regulated financial advice
You have had a huge jump in pay and are worried you may have an Annual Allowance charge
It may not be the right service if:
You need a full forensic audit of your NHS Pension records
You require detailed NHS pension projections or Annual Allowance calculations
You need a personal recommendation about investments, additional pension contributions or financial products
You need tax, legal, employment or actuarial advice
Where more detailed work is required, we will explain the appropriate next step.
The question is not simply, “How big is my pension?” It is whether your retirement income gives you solid foundations on which to build the next chapter of your life.
The NHS Wealth Roadmap or the Retirement Programme?
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You want to understand your pension position, explore your retirement timeline and identify what to do next. It is an educational and planning-led starting point.
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You require deeper investigation, including a forensic review of records, detailed NHS Pension calculations, Annual Allowance schedules, McCloud modelling or a more extensive NHS Pension Report.
We will explain the difference during your Discovery Call and will not recommend the more extensive service unless the additional work appears necessary.
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Seven Medical provides NHS pension education, guidance, coaching, modelling and NHS Pension Reports.
The NHS Wealth Roadmap does not provide personal recommendations about:
Which investments to buy or sell
Which investment funds to use
How much to contribute to a pension
Whether to transfer a pension
Whether to take a specific retirement option
Whether to surrender, encash or move an existing product
Where a decision requires regulated financial advice, tax advice, legal advice, employment advice or actuarial advice, we will explain this clearly and signpost you appropriately. Knowing where that boundary sits is part of the value of the Roadmap.
How it works
We discuss your NHS career, Scheme history and what you would like your future working life to look like. This is also where we decide whether the NHS Wealth Roadmap is the right service for you.
01 Discovery Call
We bring your pension and wider financial information together into an illustrative timeline. We then explore the agreed “what if?” questions using the information available.
04 Timeline & Scenario Mapping
02 Information gathering
We explain which documents are likely to be useful. These may include your:
Total Reward Statement or Annual Benefit Statement
Pension Savings Statements
Remediable Service Statement
Scheme Pays information
NHS Pension estimates
Details of other pensions, savings and income
Current expenditure
You do not need to have everything ready before your Discovery Call.
You receive a clear summary of your position, the remaining uncertainties and your next steps—in a sensible order.
05 Your written Roadmap
03 Understanding Your Position
We help you understand your Scheme membership, statements, retirement ages, Annual Allowance position and the main issues that may affect your plans.
You have twelve months of coaching support to revisit the Roadmap as documents arrive, circumstances change and new questions arise.