NHS Pensions: a Health Warning

NHS Pensions have announced that with effect from 4 January 2011 its charges for implementing a Pension sharing Order will rocket from £393.62 to £2760 – an increase of over 600%.

This will apply not only to all orders that have been notified to them after this date, but which also have not been properly served upon them by this date.  To be properly served the order needs to be sent together with the fee and the decree absolute.

It remains to be seen whether other public sector schemes will follow suit, but given the parlous state of public finances I suspect the others are at least watching closely.