The NHS has launched a ‘cost claim back scheme’ to allow members impacted by McCloud to reclaim some of the cost of using professional advisers to assist with the complex decisions associated with the remedy.

You will therefore be able to apply to receive a rebate on the cost of financial advice of up to £500 including VAT for assistance with McCloud (and separately, you will be able to apply for up to £1,000 including VAT for related accountancy fees).

Like most things concerned with the NHS Pension, the rules surrounding McCloud are complex and many doctors have been, quite rightly, seeking expert advice from professionals who can help them make the best decisions for their situation. It is therefore good news that the government is giving some financial assistance – albeit it minor – to help to cover the cost of understanding what McCloud means and what your best course of action might be.

The NHS Cost Claim Back Scheme covers not only professional advice but also direct financial losses or tax losses incurred because of the remedy.

The downside is that there is a sizeable application form to complete in order to make a claim. Different forms are required for each professional service so if you are claiming for accountant and adviser costs, you will need to produce two forms which can be downloaded from the NHS Business Services Authority website here The NHS Cost Claim Back Scheme | NHSBSA

Do you need help with McCloud? Call our adviser team on 020 7636 7006 who will be happy to help.