23rd February 2016 Anna Rogers in Pensions Expert re NHS cash for pensions offer could open loophole

Anna Rogers comments in Pensions Expert on how an NHS trust has come under scrutiny for offering nurses cash to opt out of the pension scheme, which according to experts could lead to other employers copying the move.

The Oxleas NHS Foundation Trust offered newly qualified nurses standard pay and NHS pension, or higher pay if they opted out of the scheme.

The trust said in a statement: “We are offering our band 5 qualified nurses the choice of a higher headline salary if they decide not to take up the NHS pension scheme. Those who make this choice will still have access to the government’s Nest pension scheme. This is allowing us to compete with the rates of pay offered by nursing agencies.”

Anna stated that “It’s a basic principle of auto-enrolment that you don’t bribe people to stay out.”

Read the full article here

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