Peri-retirement modeller for those aged 59+ on the 1995 NHS pension

Peri-retirement finances for over 59 year olds - should you stay on another year, retire now or retire and return? Use our modeller to help you understand your numbers.

Senior doctor holding iPad

It doesn't pay to stay

We have created an interactive tool for you to see what retirement (or retire and return) might look like for hospital clinicians over 59 in 1995 final salary scheme.

For example, a 60 year old consultant (CEA 7) with 36 years service could expect to lose up to £123,083 by delaying retirement till April 2023, rather than retiring in April 2022, through a combination of high inflation and risk of record breaking sub-inflationary pay awards, lack of 'late retirement factors' in the 1995 scheme and punitive pension taxation. The Government need to urgently fix these underlying problems. 

Use the tool below to explore the two case studies, or put in your own details to ensure you know your numbers. 


How to use the modeller

This tool is suitable for those:

  • aged 59 or over, in April 2022
  • full time consultants
  • other full time NHS staff in the officer scheme

Before using this tool, make sure you have a copy of:

  • your March 2022 payslip
  • a recent TRS / Annual Benefit Statement

The modeller is not suitable for:

  • GPs who have a 1995 CARE pension
  • those on the 2008 scheme members who have a later retirement age and can access 'late retirement factors'

This tool is best viewed on a desktop or tablet device.


Peri-retirement modeller



BMA disclaimer

The BMA is providing this tool to members to use as a guide only and makes no representations or warranties of any kind with respect to this tool or its contents and disclaims all such representations and warranties. In addition, the BMA makes no representations or warranties about the accuracy, completeness, or suitability for any purpose of the information and related materials, including graphics, related to this tool.

The information contained in the tool may contain technical inaccuracies or typographical errors. All liability of the BMA howsoever arising from any such inaccuracies or errors is expressly excluded to the fullest extent permitted by law.

The information provided in this tool does not constitute or to be interpreted as regulated financial advice and should not be construed as financial or legal advice regarding the conversion or transfer of pension benefits held in an NHS Pension. Any reliance you may place on this tool is at your own risk and it is not a substitute for the advice of an independent legal advisor or independent financial advisor and should not be relied on for any purposes.

The use of this tool is not intended to be a replacement or substitute for professional independent financial or independent legal advice.

Neither the BMA nor any of its directors, employees or other representatives will be liable for loss or damage arising out of or in connection with the use of this tool. This is a comprehensive limitation of liability that applies to all damages of any kind, including (without limitation) compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property and claims of third parties.

Notwithstanding the foregoing, none of the exclusions and limitations in the clause are intended to limit any rights you may have as a consumer under local or other statutory rights which may not be excluded nor in any way to exclude or limit BMA’s liability to you for death or personal injury resulting from our negligence or that of our employees or agents.

Please note that the BMA pensions department will not be able to assist you or provide any advice or information regarding this tool. Please note that the BMA pensions department cannot assist members with the input of data into this tool nor provide any advice or comment on this tool, including its technical aspects. The inputs required for you to use this – tool can be obtained from your Total Reward Statement (TRS) /Annual Benefit Statements and payslips.

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