NHS Blood and Transplant People First

Early Retirement Reduction Buy Out (ERRBO) - 2015 NHS Pension Scheme

Normal pension age (NPA) in the 2015 NHS Pension Scheme is linked to your State Pension age which can rise if the state pension age rises. An option exists (in the 2015 Scheme only), to pay additional contributions to ‘buy out’ the reduction that would apply if you retire before your State Pension age and NPA.

This is known as an ‘ERRBO agreement’. The agreement can be for retirement 1, 2 or 3 years early (i.e. before the State Pension age and NPA). Although you cannot have an ERRBO agreement to retire before age 65. For example; if your State Pensions age/NPA is 67 you can only take out an ERRBO for 2 years to bring this forward to age 65.

To find out about more and check your eligibility and the cost click here for factsheets and the NHS Pensions’ expression of interest form.

If you decide to proceed sign and return the agreement document to NHS Pensions who will instruct us to deduct the additional pension contributions from the effective date.

If your application for an ERRBO agreement is made within three months of joining the 2015 Scheme or by the 5th July in any subsequent year it will be effective in that year. Otherwise it will take effect from the following April.

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