DEMOGRAPHIC CHANGES

Demographic Changes

Demographic Changes

Introduction

When looking at the situation we face today with regard to the NHS pension scheme it is useful to have an understanding of the agreement that preceded it. After long and difficult negotiations that started in 2004, agreement was reached in 2008 that dealt with a number of issues and concerns around the viability of the scheme.

Part of the 2008 agreement was to cap employer contributions at the current level of 14% and increase employee contributions. Both sides in the negotiations realized that, like many current schemes, there could be a potential financial risk to the scheme because ...