Question to the Department of Health and Social Care:

To ask the Secretary of State for Health and Social Care, how much interest was accrued in relation to annual allowance charges paid through the scheme pays facility of the NHS Pension in each quarter since 2014-15.

The information requested is not calculated or held by the NHS Business Services Authority for the whole scheme membership. The ‘Scheme Pays’ facility allows NHS Pension Scheme members to settle their annual allowance tax charges without needing to find funds upfront. However, HM Revenue and Customs requires that if a defined benefit pension scheme pays an annual allowance charge there must be an adjustment to the benefits the member has accrued. The value of the scheme pays charge, plus interest, is recouped from the value of the member’s pension on retirement.