A research paper published by Mr Aso A. Ahmed in a British Journal
Mr Aso Abdullah published this paper in the British Journal of Economics, Finance and Management Sciences in the area of Accounting.
Research Title: A Costs/Benefits Analysis of the Government NHS Pension Scheme Reforms
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Abstract
Reforms to NHS Pension Scheme have long been a centre of special attention by the government and the Ex-chequer since 2002. In a background concentrated with a problem of an ageing population, this increased the scheme deficit gradually. Finally, in 2005 the government and trade unions agreed with replacing the 1995 section with the 2008 section.
The main key reform was increasing the retirement age from 60 to 65 and further, replacing the final salary with a career average and removing the free lump sum for new entrants from April 2008. This paper examines the cost and benefits of the 2008 section.
The paper focuses in particular on the long-term implications of the changes implemented in pension legislation since 2008. Reforms to the NHS pension scheme take many years to have their full effect, but the policymakers estimated reform will reduce the deficit and create a surplus in 20 years time. For many NHS Pension Scheme holders, the system was at its most generous to those who retired.
However many scholars and government departments through the reforms led to mass opt-out of the scheme and high sickness absence rate. The author will examine whether or not there is any correlation between the theoretical and empirical results. The author will also investigate what the main objective of the 2008 section was and why an increased employee contribution was not debated during the 2010 general election.
