At the weekend the BBC Radio 4’s Money Box programme covered the Annual Allowance (aka the Pension Tax) charge as it relates to NHS pensions.
We reported on this issue last week in our post ‘NHS chiefs holding emergency talks over pensions tax crisis’ highlighting that more and more serving military personnel are also being caught up in this pension tax trap, and about the ongoing discussions across the public sector on how to best engage with HMT to address the issue. This interesting (and complex) discussion demonstrates just how much dissatisfaction this punitive measure is causing – in fact a parliamentary debate on the effect of Annual Allowance on NHS pension scheme members will take place tomorrow between 11.00am – 11.30am.
We shall be watching the outcome closely and will keep you posted.
You can listen to the BBC Radio 4’s Money Box discussion here (13:25 mins in)