NHS Blood and Transplant People First

Flexible Retirement

Flexibilities within the NHS Pension Scheme can enable members to take a different approach to retirement. They enable them to work to a later retirement age in a way that can meet their needs and those of the organisation they work for.  If you want to explore how this would apply to you and your NHS Pension, contact NHS Shared Business Services – Pensions.  You will then need to discuss it with your line manager under the Flexible Working Policy.

The flexible retirement options that may be available to you depend on the NHS Pension Scheme(s) you have service in.

Retirement Grid

*Members of the 1995 section will not be eligible to rejoin the NHS Pension Scheme on their return to employment 

From April 2015 you may have membership in more than one part of the scheme, so you will need to ensure that if you wish to take up flexible retirement, the option you choose is applicable to all your pensionable membership.

This policy is currently being reviewed, and therefore if you are considering "retire and return", please read the transition arrangement.

Step Down

Staff can ‘step down’ to a different role, for example, to reduce their level of responsibility while remaining in NHS employment. This supports the organisation to retain the individual’s skills and experience while supporting the staff member to approach retirement.

Wind Down

Staff can ‘wind down’ to retirement by remaining in their current post but reduce the number of hours or days they work.

Retire and Return to NHS Employment

You can leave your employment, take your NHS pension benefits and return to NHS employment.  Note: If you are a member of the 1995 Scheme you are not eligible to rejoin the NHS Pension Scheme on your return to employment.

If you are considering retiring and returning to work, it is important that you talk to your manager as soon as possible for information on the options available to you.

Should your manager agree to re-employ you or agree to you being retained on a bank agreement, you will need to complete a Flexible Retirement request form.

Different rules apply depending on your membership of the NHS Pension Scheme, for example there may be a limit on the hours you can work and how soon you can return to work, so it is important that you check the options available to you under the NHS Pension Scheme rules, read the guidance provided in the Flexible Working Policy and FAQs – click here.

If you require further information, please contact HR Direct.

Draw Down

Members can take part of their pension benefits and continue in NHS employment. This means that staff can continue working while benefitting from being able to partially draw down their pension benefits and supplement their income.

Late Retirement Enhancement

If a member chooses to retire later than their normal pension age (NPA), their pension benefits will be increased by the application of late retirement factors.

Early Retirement Reduction Buy Out (ERRBO)

Members or their employers can pay additional contributions to buy out, or reduce, the actuarial reduction that would be applied to their pension if they were to retire before their normal pension age.

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