NEW: 2019/20 Pensions Annual Allowance Charge Compensation Scheme (2019/20 PAACCS) revised FAQs, slides and new member booklet
In November 2019 NHS England announced that clinical staff who exceeded their annual allowance for the 2019/20 tax year, and who use Scheme Pays to pay the tax charge, could be compensated in retirement for any reduction to their NHS Pension Scheme benefits for 2019/20 through using Scheme Pays. To benefit from the 2019/20 PAACCS clinicians must submit two forms:
* The SPE2 scheme pays application form
* 2019/20 Pension Annual Allowance Charge Compensation Scheme Application Form
We have updated the FAQs, employer and clinician slides, and have published a member booklet which brings together all the key information about the 2019/20 PAACCS.
Although the closing date for applications was 31 March 2022, late applications will be accepted for up to six months after you have the relevant information to hand. If you still don’t have your Pensions Savings Statement for 2019/20, but believe you will have a charge, please submit an estimated Scheme Pays election for 2019/20, and a 2019/20 PAACCS application form.