The 2015 NHS Pension Scheme accrues at 1/54th of pensionable pay each year, revalued at CPI plus 1.5 per cent while you are in service. The Teachers’ Pension Scheme accrues at 1/57th with CPI plus 1.6 per cent. The Local Government Pension Scheme accrues at 1/49th, revalued at CPI. Those three sentences already tell you more than most people working in those schemes have ever been told.
Public Service Money covers the pensions and pay of the roughly six million people employed in the UK public sector: NHS staff, teachers, civil servants, police officers, firefighters and local government workers. Each scheme has its own rules, its own contribution tiers, its own retirement ages and its own quirks from the McCloud remedy. Generic pension content does not help here. Scheme-specific content does.
Every article names the scheme, section and rule it is discussing in the first line. Rates, bands and dates go in tables. Pay awards are reported as the review body recommended them and as the government implemented them, with the difference shown. There is no political opinion on this site: the rules are what they are, and the job is to state them precisely.
The site is edited by Callum Docherty, who spent years in pensions administration before writing about it. A fortnightly audio episode, kept from the site’s radio origins, runs through what has changed.
Public Service Money is an independent UK publication and does not give personal financial advice.