The official McCloud remedy legislation has finally been published and to help aid planning, a new ‘McCloud Percentage Tool’ has been launched by the government.

The McCloud remedy, which seeks to redress the age discrimination caused by moving some members to the 2015 scheme, confirms that those impacted will be given a choice between taking their benefits for the remedy period from the 1995/2008 Section or the 2015 Scheme instead.

The new calculator allows those affected by McCloud to see what percentage of pension they could take to avoid having overpayments to repay, when planning their remedy choice. You can click here to access the tool:

NHS Pensions Partial Retirement McCloud Percentage Tool (Excel: 59KB)

Although this tool will give an elementary overview, it is vitally important to conduct detailed analysis of your particular situation with a financial planner with NHS expertise. The McCloud remedy and the NHS pension in general are complex and costly financial mistakes could occur easily.

Call one of our specialist financial advisers on 020 7636 7006.