With the substantial changes that have recently taken place in the pensions legislation directly affecting high-earners, many NHS staff are now facing tax charges on their ongoing pension savings.
This has been exacerbated since April 2016, as the £40,000 ‘standard’ Annual Allowance (AA) has been reduced for high earners – down to as low as £10,000 for many.
At Barnett Waddingham we understand the challenges facing senior NHS staff in managing the tax burdens imposed by the complex pensions taxation legislation.
With our extensive knowledge of the issues surrounding pension provision for NHS staff, we can provide a bespoke and specialised service designed to meet each individual’s requirements.
We have been meeting senior NHS staff impacted by the adverse impact of pensions taxation – Tapered Annual Allowance and Lifetime Allowance (LTA).
If you would like to discuss any aspect of your pension provision and retirement planning, please contact our team. Our full briefing paper for senior NHS Staff is available below.