Is SPPA a government pension?
The Scottish Public Pensions Agency (SPPA) administers pensions on behalf of the Scottish Government for Teachers, the Police and Firefighters as well as for employees of the National Health Service in Scotland.
How does SPPA pension work?
Your pension contributions are deducted from your monthly salary by your employer and you receive income tax relief on your contributions. Your employer contributes an amount equal to 20.9% of your pensionable pay into the scheme on your behalf.
Is SPPA pension tax free?
Although you get tax relief on the money you pay into your pension and any growth in the value of your pension is also tax free, you do have to pay tax on the income you receive in retirement. For SPPA administered pension schemes, any tax due on your payments will be deducted through our pensions payroll system.
How much is the Scottish pension?
The new State Pension will be £179.60* per week in tax year 2021/22. To claim any new State Pension you will need to have made National Insurance contributions (NICs) for at least 10 years. *This is the full amount based on having at least 35 ‘qualifying years’ of National Insurance contributions (NICs).
How much does NHS Scotland contribute to my pension?
The employer contribution rate continues to be 20.9% from 1 April 2021. The NHS Pension Scheme 2015 Regulations provide for annual revaluation by reference to changes in prices.
Can I get my NHS pension early due to ill health?
If you are terminally ill you may take your benefits immediately as a lump sum. Your benefits may be reduced if you take up further NHS employment after retiring early due to ill health. You may apply for ill health early retirement by completing a form which you can get from your employer.
How much will my NHS pension be?
Introduction to the NHS Pension Scheme The scheme is voluntary, so you can choose to opt-out if you wish. The amount you pay into your pension is dependent on how much you earn and the current contribution rates are between 5% and 14.5%. Your rate is determined on your full-time equivalent pensionable pay.
How much do the NHS put into my pension?
The NHS Pension Scheme employer contribution rate increased on 1 April 2019 from 14.3% to 20.6%, plus an employer’s levy of 0.08%.
Do you get a lump sum with NHS Pension?
Yes, every scheme member is entitled to a tax free lump sum from their NHS Pension.