2019/20 Pensions Annual Allowance Charge Compensation Policy
As a GP your application form for the 2019/20 Pension Annual Allowance Charge Compensation Policy will need to be endorsed by PCSE before it can be processed by the NHS Business Services Authority (NHSBSA).
PCSE is going to be accepting forms for endorsement in application windows. The next application window will open on the 2 August 2021 and will close on the 1 October 2021. We will share more information about how you should submit your form to PCSE nearer the time. As the next application window is after the mandatory scheme pays election deadline for 2019/20 closes on the 31 July 2021 you must make sure that you have submitted a scheme pays election before this deadline.
Visit the NHSBSA annual allowance webpage now to download a scheme pays election form. You must return your scheme pays election form to the NHSBSA before 31 July 2021.
If you have recently retired and were advised to submit your application for the 2019/20 Pension Annual Allowance Charge Compensation Policy in March 2021 but were unable to do so, you will still be able to submit your application when the next application window opens on 2 August.
How to claim
In order to claim the compensation you will need to complete and return a 2019/20 Pensions Annual Allowance Charge Compensation Policy application form to PCSE, during the next application window, between Monday 2 August and Friday 1 October 2021.
Completed applications received during this application window will be validated by PCSE, then sent to NHSBSA to be processed. A copy will also be sent to you for your records.
Please note: we cannot accept any submissions before the window opens on 2 August.
Once your validated application has been processed you will receive a confirmation email from NHSBSA.
Please note, to qualify for this compensation you must also have submitted a Scheme Pays Election (SPE2) form to NHSBSA. You can find more information about Scheme Pays and the SPE2 form on the NHS Pensions annual allowance webpage.
How to submit your 2019/20 Pensions Annual Allowance Charge Compensation Policy form to PCSE
We will share more information about how you should submit your form to PCSE nearer the time of the next application window.
If you are planning to retire before 2 August
For applications from GPs retiring after 31 March 2021, you should wait until the next application window opens on 2 August. Further updates will be posted on this web page.
You can still submit your Scheme Pays Election form (SPE2) to NHS Pensions ahead of this window opening. You can find more information about Scheme Pays and the SPE2 form on the NHS Pensions annual allowance webpage.
Should you need any further information, please contact:
Visit our Contact Us page on the PCSE website
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