If you’ve recently received a letter from NHS Pensions about something called a remediable service statement (RSS), you’re not alone – and it’s worth paying attention to. This letter is more than just another pension update. It’s about giving you a choice that could significantly affect your retirement income.
Let’s unpack what it means, when you can expect yours, and why seeking advice could be crucial.
What is a remediable service statement (RSS)?
An RSS is a formal letter being sent to NHS Pension Scheme members who have already retired and were affected by the McCloud judgment.
In simple terms, the McCloud judgment found that the 2015 changes to public service pensions – including the NHS Pension Scheme – discriminated against members based on age. To put things right, you’re now being given a choice about how part of your pension is calculated.
If you’re affected, your RSS will:
- Offer you a choice between receiving pension benefits under the 1995/2008 scheme or the 2015 scheme for the service period between 1 April 2015 and 31 March 2022 (known as the remedy period)
- Include a personalised decision guide, with two tables comparing your pension benefits under each scheme
- Provide links to useful videos and further guidance via the NHS Business Services Authority (NHSBSA) website for those in England/Wales.
When will you receive your RSS letter?
NHS Pensions for England/Wales is prioritising letters based on members’ circumstances, focusing first on those most at risk of financial detriment.
Here’s a simplified breakdown of when you can expect to receive your RSS:
- If you retired by 1 October 2023 with unprotected or taper-protected benefits in the 1995/2008 scheme, you will receive your letter by 1 July 2025
- If you retired by 1 October 2023 and took 2015 scheme benefits, you will receive your letter by 1 October 2025
- If you retired by 1 October 2023 and were fully protected, or if you retire between 1 October 2023 and 1 July 2025, you will receive your letter by 1 December 2026
There are no set timescales when you may receive your RSS in Scotland however SPPA expect the majority of Choice Letters to be issued by 31 July 2025 and the more complex cases by 31 October 2025.
In Northern Ireland the HSC website states that it will be updated when they have more information.
Once your letter arrives, you’ll have 12 months to make your choice. If you don’t respond, your benefits will default to the 1995/2008 scheme for the remedy period.
Why this choice isn’t always straightforward
At first glance, the right option might seem obvious – but there are many personal and financial factors to weigh up before deciding. The wrong choice could cost you thousands over the course of your retirement.
Here are just a few things to consider:
- How much lump sum you want to take – and how it impacts your pension
- How early or late retirement factors affect your benefits
- How inflation might erode your retirement income
- The tax impact of your pension, especially if you have other income
- What happens to your death benefits
- Your wider financial goals and needs
Need help deciding? You’re not alone
This is a once-only decision – and getting it right is vital. That’s why speaking to a qualified independent financial adviser (IFA), like those at Chase de Vere, can make a real difference.
Better still, you can claim back up to £500 of the advice cost through the NHS Cost Claim Back Scheme. That means you get expert, personalised advice – and help covering the cost of it too.
For more information about claiming back advice fees, visit the NHS Cost Claim Back Scheme page – or speak directly with your Chase de Vere adviser.
Final thought
Your RSS letter gives you the chance to make a choice that reflects what’s best for you – but it’s also a choice that deserves careful thought. If you’re unsure, don’t go it alone.
At Chase de Vere, our independent financial advisers are here to help you make the right decision – with confidence.
The information contained within this article is for guidance only and does not constitute financial advice.
Content correct at time of writing.