McCloud Remedy update - It’s about to happen!!

22 October 2024

CBS accountancy partners Ballards LLP would like to highlight the following issue around NHS Pension's affected by the McCloud Remedy.

After months of waiting, NHSBSA have confirmed that 57,000 Remedial Pension Savings Statements have been sent out to current and former members of the NHS Pension scheme who are affected by the McCloud Remedy.

What to do when the brown envelope falls through your letterbox?

The most important thing is, do not ignore the statements. Changes to your position will need to be reported to HMRC by 31 January 2025 (or 3 months after the issue date of the remedial statement, if later). The deadline is extended to 31 January 2027 for deceased members or those who retired before 1 October 2023.

You have the option to calculate and report the relevant changes yourself through the HMRC public service pension adjustment portal, using your Government Gateway account. The link to the portal can be found below:

https://www.gov.uk/guidance/calculate-your-public-service-pension-adjustment

Alternatively, the statements should be passed onto your accountant for review and action.

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