As part of the government’s ‘interim NHS people plan’, senior NHS doctors are to be offered the option to minimise pensions tax charges through reduced contributions.
The government is to consult on proposals for a so-called ‘50:50 option’, which would allow doctors to halve their pension contributions in exchange for halving the rate of pension growth.
There has been much recent media coverage of pension tax charges becoming a factor for many GPs in deciding to retire early and acting as a disincentive for other senior doctors to work extra hours in hospitals.
Launching NHS people plan, health and social care secretary, Matt Hancock, said: ‘Each and every senior consultant, nurse or GP is crucial to the future of our NHS, yet we are losing too many of our most experienced people early because of frustrations over pensions’.
The report states that: ‘the government is listening to these concerns and will bring forward a consultation on a new pension flexibility for senior clinicians. The proposal would give senior clinicians the option to halve the rate at which their NHS pension grows in exchange for halving their contributions to the scheme’.
As part of the government’s ‘interim NHS people plan’, senior NHS doctors are to be offered the option to minimise pensions tax charges through reduced contributions.
The government is to consult on proposals for a so-called ‘50:50 option’, which would allow doctors to halve their pension contributions in exchange for halving the rate of pension growth.
There has been much recent media coverage of pension tax charges becoming a factor for many GPs in deciding to retire early and acting as a disincentive for other senior doctors to work extra hours in hospitals.
Launching NHS people plan, health and social care secretary, Matt Hancock, said: ‘Each and every senior consultant, nurse or GP is crucial to the future of our NHS, yet we are losing too many of our most experienced people early because of frustrations over pensions’.
The report states that: ‘the government is listening to these concerns and will bring forward a consultation on a new pension flexibility for senior clinicians. The proposal would give senior clinicians the option to halve the rate at which their NHS pension grows in exchange for halving their contributions to the scheme’.
