NHS staff scheme opt outs up 22% in 2019/20

Complicated tax rules mean many NHS doctors are better off declining promotions and extra hours

Hope William-Smith
clock • 2 min read

The number of people who opted out of the NHS Pension Scheme increased by nearly 10,000 in the 2019/20 tax year, according to Quilter.

A freedom of information request from the wealth manager found 50,399 scheme members opted out in 2019/20 and that an average 44,843 NHS staff opted out of the pension scheme each year in the last ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Industry welcomes proposals to grant DB schemes easier access to surpluses

Industry welcomes proposals to grant DB schemes easier access to surpluses

Providing schemes access to surpluses could be of ‘great benefit’ to sponsors and members

Martin Richmond
clock 18 April 2024 • 8 min read
FTSE 350 DB aggregate surplus sees narrow growth in March

FTSE 350 DB aggregate surplus sees narrow growth in March

Mercer analysis finds surplus grew by £7bn and aggregate funding levels rose to 111%

Martin Richmond
clock 17 April 2024 • 2 min read
Professional Pensions' DB Funding Index

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
clock 17 April 2024 • 1 min read
Trustpilot