NHS Pension - Total Rewards Statement Explained (Walkthrough)
Channel: Financial Madness
Date: 2023-08-06

NHS Pension - Total Rewards Statement Explained (Walkthrough)
In this video we look to understand how to access and use your NHS Pensions, Total Rewards Statement (TRS) which can be viewed via the Total Rewards Statement Portal.
The Total Rewards Statement is an annual statement that outlines all your benefits and key information for anyone enrolled in the NHS Pension scheme. 
In this video, I  will be giving you a step-by-step guide on how to understand and use the key features of the Total Rewards Statement.

We look to answer the following questions:
1) How do I know which NHS Pension Scheme I have enrolled in?
2) How do I view the current value of my NHS Pension Benefits?
3) How can I estimate my NHS Pension benefits when I retire?
4) How can I see how much my employer and I have contributed to the NHS Pension scheme?
5) How can I apply for a transfer in or out of the NHS Pension Scheme?
6) How do I apply for retirement?
7) What is the difference between my Salary and Pensionable Pay?
8) How do I make additional contributions to my NHS Pension?

Chapter Information (NHS Pension - Total Rewards Statement Explained (Walkthrough):
0:00 Introduction
0:40 What is the Total Rewards Statement (TRS)?
1:15 How to access your TRS?
2:12 TRS Portal Walkthrough
10:38 NHS Pension Questions

🔹 TRS: https://www.nhsbsa.nhs.uk/employee-section

🔹 Financial Madness - NHS Pension Calculator: 
1) Full Copy: https://docs.google.com/spreadsheets/d/1GHcrRnKQO5aOq0U1BK0HfmS01nwpdhnk0wd65VHjqYs/edit?usp=drive_link

2) Working Out Example: https://docs.google.com/spreadsheets/d/1cO1-dK-tZQwQc1w3CPawnROmCaX0_bXEY0MtXDPJPV8/edit?usp=sharing

🔹Request Login: https://faq.nhsbsa.nhs.uk/knowledgebase/article/KA-02755/en-us#:~:text=If%20you've%20viewed%20a,to%20respond%20to%20your%20request

🔹Increase your NHS Pension: https://www.nhsbsa.nhs.uk/member-hub/increasing-your-pension

🔹 Transfer Out of NHS Pension: https://www.nhsbsa.nhs.uk/sites/default/files/2021-08/UK%20Transfer%20Out%20Guide%20and%20application%20pack-20210311-%28V13%29.pdf

🔹Transfer In the NHS Pension: https://www.nhsbsa.nhs.uk/member-hub/transferring-scheme

🔹Death Benefits & Nomination Form: https://www.nhsbsa.nhs.uk/member-hub/nominations


DISCLAIMER: Any advice or statements perceived to be advice given in this video and any other videos on my channel are for information purposes only, and does not act as financial advice. 
You are fully responsible for your financial decisions. If you are in need of any Financial Advice, please seek out a professional advisor. If you are unsure of how to do this, please feel free to reach out to me and I am more than happy to guide you.

#NHS #TRS #NHSPension