3,266 NHS staff apply for partial retirement

A rule change giving longstanding NHS staff the option of partial retirement has seen more than 3,200 medical professionals apply in the first three months.

The rule change – designed to encourage older staff to work longer to fill staff gaps – came into effect on 1 October.

October alone saw 1,215 scheme members successfully apply for partial retirement, suggesting there was pent-up demand.

The government data, received via a Freedom of Information request by Wesleyan Financial Services in January, did not break down these NHS Pension Scheme members by age, sex or years of service.

The change in the rules was designed to boost NHS staff retention by offering greater retirement and pension access flexibility.

Jonathan Halberda, specialist financial adviser at Wesleyan Financial Services, said that the data does not mean “mission accomplished” but does show the extent of the demand for flexibility.

He said the data shows how, like many people, medical professionals are less likely to view retirement as a straight line.

Before the change in the rules NHS staff within the 1995 section of the pension scheme could only choose to stay or retire.

Mr Halberda said: “Like many people these days, fewer and fewer medical professionals view retirement as a ‘cliff-edge’. Before these changes were announced, many of the most experienced medical professionals faced a stark choice – stay or go.

“The rule change gives them a third option and will no doubt help some stay in jobs that they love. However, it is complex area and partial retirement won’t be the answer for all NHS staff.

“Anyone considering this should think about how they’re going to cover any immediate income shortfall, for example, and consider reviewing their retirement income plan to ensure it continues to meet their needs.” 

Partial retirement allows NHS Pension Scheme members aged 55 and over to take part, or all, of their pension benefits in one or two occasions and continue in NHS employment.

This measure was already available to NHS staff in the 2008 ‘section’ of the NHS Pension Scheme and the 2015 NHS Pension scheme.

The option was extended to members of the 1995 ‘section’ of the NHS Pension Scheme membership which covers some of the most experienced staff within the NHS.