Request

Please provide the following information about NHS Pensions The average time since September 2023, for
1. providing quotes to the requester for the value of transferring a personal pension into the NHS scheme. And,
2. the average timescale for then completing the transfer from a personal scheme to the NHS scheme once the requester has authorised the transfer. I understand that the performance indicator is 2 months to provide the quote, followed by 2 months for the transfer the third element of my request
(3.) is to confirm what the current performance indicators are.

Response

The information in questions 1 and 2 shows the volume of ‘transfer in’ estimates and payments from personal pensions, completed from 1 September 2023 to date (15 February 2024). The ‘average days’ are based on the elapsed calendar days between date of receipt and the date of completion.

Question 1

Transfer in estimates:

Total completed: 18 Average days taken: 92

Question 2

Transfer in payments

Total completed: 121 Average days taken: 94

Question 3

A copy of the information is attached.

We only have a Key Performance Indicator (KPI) on transfer in estimates. This is a statutory target of providing 95.00% of transfer in estimates within 2 calendar months of receipt of all relevant information. The below table reflects ALL transfer in estimates; not just those from a personal pension scheme.

Caveats & Comments

The estimate and payment cases are not necessarily connected to the same piece of work, as they are managed as two separate work streams.

Data is based on when the casework was completed, NOT received; the transfer in request may have been received at any point prior to 01/09/2023.

The data provided in this FOI response counts all members who submitted transfer in estimates and payment requests and includes both clinicians and non-clinicians.

We have experienced delays in the processing of transfer in estimates and payments since April 2023. The factors provided by the Government Actuary’s Department (GAD) changed, resulting in us not being able to process cases whilst we waited for the updated factors to be provided and implemented.

The change to the rules on 1 April 2023 allowing re-employed pensioners to transfer in pension benefits from other pension providers meant we received a significant increase in the number of requests between April and September 2023.

The Public Service Pension Remedy also known as the McCloud ruling has led increased complexity in calculations, increasing processing times. Whilst we have recruited additional resources to the team, we are still experiencing some delays in our normal processing times.