High-earning senior clinicians will be able to support more patients while saving into their NHS pension without facing significant tax charges, under plans launched by the government today.
The Government will consult on proposals to offer senior clinicians a new pensions option. This would allow them to build their NHS pension more gradually over their career by making steadier contributions towards their pension, without facing regular, significant tax charges. It would mean clinicians can freely take on additional shifts to reduce waiting lists, fill rota gaps or take on further supervisory responsibilities.
A proposal known as a 50:50 option would allow clinicians to halve their pension contributions in exchange for halving the rate of pension growth.
Senior doctors have said that pension tax charges are discouraging them from taking extra work to support patients and causing them to question whether to remain in the NHS Pension Scheme. READ THE FULL NEWS ITEM FROM GOV.UK HERE
The Government said it had acted over NHS pensions “given the compelling evidence provided on the specific impact of this issue on retention and frontline service delivery, and value for money”. However it would “continue to examine the evidence on how this specific issue affects other public sector workforces”
So far, this is a consultation not a decision and we remain in collaboration with our Public Service colleagues as to the next steps, so watch this space.