FOI 26551



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Open Government Licence 2.0 (United Kingdom) [Open Data]

FOI 26551


Please can you provide the information regarding the percentage reduction applied to pensions taken early, as only certain limited values are provided in the table in the Early Retirement Factsheet.

I am particularly interested in the % reduction for months 1 to 11 of the final year.

12 months is set at 5% but I would like to understand the values for the months specified.

The % reduction figures must be available to those who would be generating quotations as I have been advised to do but I cannot afford to pay for 11 quotations, so please can I request that the information tables that detail the percentage reduction by day or month be shared with me so I can work out what to do?


1995 Scheme

At age 59y 0m the member will get 95.5% of their pension, 97.7% of their lump sum

59y 1m 95.8% pension, 97.9% lump sum

59y 2m 96.2% pension, 98.0% lump sum

59y 3m 96.6% pension, 98.2% lump sum

59y 4m 97.0% pension, 98.4% lump sum

59y 5m 97.4% pension, 98.6% lump sum

59y 6m 97.7% pension, 98.8% lump sum

59y 7m 98.1% pension, 99.0% lump sum

59y 8m 98.5% pension, 99.2% lump sum

59y 9m 98.9% pension, 99.4% lump sum

59y 10m 99.3% pension, 99.6% lump sum

59y 11m 99.6% pension, 99.8% lump sum

2008 Scheme

At age 64y 0m the member will get 95.1% pension

64y 1m 95.5% pension

64y 2m 95.9% pension

64y 3m 96.3% pension

64y 4m 96.7% pension

64y 5m 97.2% pension

64y 6m 97.6% pension

64y 7m 98.0% pension

64y 8m 98.4% pension

64y 9m 98.8% pension

64y 10m 99.2% pension

64y 11m 99.6% pension

2015 Scheme

In respect of the 2015 Scheme, these operate differently, and work based on the amount of years and months a member retires prior to their normal pension age. The amount of pension a member will receive if they retire within 1 year of their normal pension age is as follows:

1 month           99.5%

2 months         99.1%

3 months         98.6%

4 months         98.2%

5 months         97.7%

6 months         97.3%

7 months         96.8%

8 months         96.4%

9 months         95.9%

10 months       95.5%

11 months       95.0%

Normal Pension Age in the 2015 Scheme is equal to the member’s State Pension Age or Age 65 if this is later

The calculation to provide NHS Pension Scheme benefits is in line with that prescribed by the  NHS Pension Scheme Regulations. All actuarial factors are provide by the Scheme Actuary to NHS

Pensions and are based on a member’s age in years and months. These are determined by mortality rates, the general discount rates in excess of the consumer prices index and the overall valuation of the NHS Pension Scheme. When one of the factors in making these assumptions changes it can result in a revision to these factors. This is why different factors apply to each Scheme.

For reference, please find attached factors and guidance for both the 1995/2008 Section and the 2015 Scheme provided by the Government Actuary’s Department which will be available on our website.

Please note that this request and our response is published on our Freedom of Information disclosure log at:

If you have any queries regarding the data provided, or if you plan on publishing the data, please contact ensuring you quote the above reference. This is important to ensure that the figures are not misunderstood or misrepresented.

If you plan on producing a press or broadcast story based upon the data please contact This is important to ensure that the figures are not misunderstood or misrepresented.

The information supplied to you continues to be protected by the Copyright, Designs and Patents Act 1988 and is subject to NHSBSA copyright. This information is licenced under the terms of the Open Government Licence detailed at:

Should you wish to re-use the information you must include the following statement:

“NHS Pensions, NHSBSA Copyright 2022” This information is licenced under the terms of the Open Government Licence:

Failure to do so is a breach of the terms of the licence.

Information you receive which is not subject to NHSBSA Copyright continues to be protected by the copyright of the person, or organisation, from which the information originated.

Please obtain their permission before reproducing any third party (non NHSBSA Copyright) information.

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Last Updated August 9, 2022, 12:25 (UTC)
Created July 28, 2022, 14:34 (UTC)