Guild says pension review “breach of faith”
Pensions article
The careers article in this issue of Hospital
Pharmacist (pp101–4)
reviews the history of pensions, the current NHS pension and the
changes which may occur to the scheme |
Developments achieved in service delivery and recruitment and retention
under Agenda for Change could be lost under the Government’s pension
proposals. This is the opinion of members of the Guild of Healthcare
Pharmacists terms and conditions committee, which met on 9 February to
discuss the NHS Pension review consultation (Hospital Pharmacist 2005;12:45).
The retirement age at which it will be possible for employees to receive
their full pension is to increase from 60 to 65. The guild is concerned
that this measure may deter people from commencing or continuing a public
service career. It comments that this change is a “breach of faith
in the pension promise made to pharmacists who for many years have endured
lower salaries in return for greater job security, non-pay benefits and
pension provisions.” The guild suggests that the proposals will
reduce pension costs to the Government. However, it is calling for all
savings achieved to be reinvested in the scheme, suggesting that it would
be iniquitous to enhance salaries with one hand and ask NHS staff to
accept lower pensions with the other hand.
There has been a better reception for some of the other proposals included
in the consultation document. The protection of existing rights until
2013 and the ability to choose between the proportion of a lump-sum and
pension at retirement is supported. The improvement in accrual rates
(ie, reducing service requirement from 40 to 30 years) and the plan to
pay a full pension to a member’s dependants for six months after
a death in service are also supported.
The guild will be making a submission to the consultation on the pension
review. This period ends on 11 April and further information is available
at www.nhsemployers.org |
Hospital Pharmacist