Calculation Methodology

The NHS Business Services Authority provides guidance on its website in respect of the 2015 NHS Pension Scheme. The link is provided below: 

https://www.nhsbsa.nhs.uk/sites/default/files/2017-11/2015%20Members%20Guide%20%28V8%29%20Print%20version%2006.2017.pdf 

Calculator

Please see the below table, which has also been supplied as an excel spread sheet.

The revaluation calculations are embedded in our automated systems. However I can inform you that the 2015/16 revaluation factor was 1.4% and the 2016/17 revaluation factor was 2.5%.

The revaluation factors are based on the Treasury Order (which is currently the Consumer Price Index) + 1.5%. A 2015 Scheme member must be in pensionable employment on the 16th day of each month to be eligible for a 12th of the factor; the table below provides a detailed breakdown for year 2015/16. 

2015 Scheme revaluation in 2015/16 
LAST DAY OF PENSIONABLE SERVICE
REVALUATION FACTOR
01/04/15 to 15/04/15
NIL
16/04/15 to 15/05/15
0.1167%
16/05/15 to 15/06/15
0.2333%
16/06/15 to 15/07/15
0.3500%
16/07/15 to 15/08/15
0.4667%
16/08/15 to 15/09/15
0.5833%
16/09/15 to 15/10/15
0.7000%
16/10/15 to 15/11/15
0.8167%
16/11/15 to 15/12/15
0.9333%
16/12/15 to 15/01/16
1.0500%
16/01/16 to 15/02/16
1.1667%
16/02/16 to 15/03/16
1.2833%
16/03/16 to 31/03/16
1.4000%

The information supplied to you continues to be protected by the Copyright, Designs and Patents Act 1988 and is subject to NHSBSA copyright. This information is licenced under the terms of the Open Government Licence detailed at:
http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/ 

Should you wish to re-use the information you must include the following statement:
“NHS Pensions, NHSBSA Copyright 2018” This information is licenced under the terms of the Open Government Licence:

http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/ 

Failure to do so is a breach of the terms of the licence.

Information you receive which is not subject to NHSBSA Copyright continues to be protected by the copyright of the person, or organisation, from which the information originated.  Please obtain their permission before reproducing any third party (non NHSBSA Copyright) information.