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NHS: Pensions

Department of Health and Social Care written question – answered on 18th October 2018.

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Photo of Stephanie Peacock Stephanie Peacock Opposition Whip (Commons)

To ask the Secretary of State for Health and Social Care, what estimate he has made of the cost to NHS employers of increasing the employer contribution to the NHS Pension Scheme as a result of the reduction in the SCAPE discount rate in each of the next three fiscal years; and whether his Department has plans to fund the cost of the increased contribution in each of those years.

Photo of Stephen Barclay Stephen Barclay Minister of State (Department of Health and Social Care)

Alongside the long-term funding settlement for the National Health Service, HM Treasury committed to providing additional funding to meet costs arising from the current actuarial valuation of the NHS Pension Scheme. This was previously estimated to be £1.25 billion a year. The Government has committed to fund any further cost pressure arising from actuarial revaluations within the five-year period of the settlement, should it be higher than £1.25 billion.

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