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 policy makers estimated reform will reduce the deficit and create a surplus in 20 years time. For many NHS Pension Scheme holders...