A five-year freeze on the pensions lifetime allowance in the government’s 2021 budget is an ‘unfair tax on doctors’ that could drive nearly three quarters of the profession to retire early, the BMA has warned.
Chancellor Rishi Sunak has confirmed a five-year freeze on the pension lifetime allowance in his 2021 budget – in a move doctors’ leaders fear will have a ‘massive detrimental impact’ on the medical workforce.
MPs have called on chancellor Rishi Sunak to ‘urgently reform the entire approach to pension tax relief’ – citing concerns over its impact on doctors – as the government prepares to unveil its 2021 budget.
The BMA has demanded urgent meetings with the Treasury and DHSC amid fears chancellor Rishi Sunak could freeze the pensions lifetime allowance in this week’s budget announcement.
Government plans to ‘effectively exempt judges from pension tax’ show the government could do more to ease financial pressure that has forced doctors to cut working hours or retire early, the BMA has said.
Thousands of GPs could claim back five-figure sums in tax and may need to reconsider decisions to opt out of the NHS pension scheme under plans to reverse discrimination in public sector pensions.
Many GPs could struggle to plan for retirement after Primary Care Support England (PCSE) apologised to doctors who will now have to wait until December at the earliest for 2018/19 pension certificates to be completed, accountants have warned.
Gaps in pension records could leave GPs unable to make key financial choices under government plans to reverse discrimination in the NHS pension scheme, accountants have warned.
Gaps in pension records could leave GPs unable to make key financial choices under government plans to reverse discrimination in the NHS pension scheme, accountants have warned.
Gaps in pension records could leave GPs unable to make key financial choices under government plans to reverse discrimination in the NHS pension scheme, accountants have warned.
GP partners could face increased costs as employer pension contributions rise under a £17bn government plan to end discrimination in public sector pension schemes – but some GPs could also be in line for a tax windfall, accountants have said.
GP partners could face increased costs as employer pension contributions rise under a £17bn government plan to end discrimination in public sector pension schemes – but some GPs could also be in line for a tax windfall, accountants have said.
GP partners could face increased costs as employer pension contributions rise under a £17bn government plan to end discrimination in public sector pension schemes – but some GPs could also be in line for a tax windfall, accountants have said.