Pension tax penalties could push 7,000 NHS retirements

An exodus is likely in March according to Quilter

Hope William-Smith
clock • 1 min read
Protections for doctors and nurses under the Coronavirus Act 2020 will cease from March
Image:

Protections for doctors and nurses under the Coronavirus Act 2020 will cease from March

Up to 7,000 NHS staff may be pushed into retirement before the end of the financial year as regulations to protect them from harsh pension tax penalties are abolished.

It comes as the measures put in place in March 2020 under the Coronavirus Act 2020 to allow recently retired NHS staff to return to work during the Covid-19 pandemic without suffering a penalty on their...

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 Industry

Sir Steve Webb

PP Live: Steve Webb on the 'big problems' in pensions

Behind the scenes video snippets with keynote speakers from this week's PP Live

Professional Pensions
clock 19 May 2022 • 1 min read
AXA IM to develop private markets offering

AXA IM to develop private markets offering

The firm plans to launch a new business unit to complement its current offering

Holly Roach
clock 19 May 2022 • 1 min read
NHS scheme reissuing statements after 2,800 errors

NHS scheme reissuing statements after 2,800 errors

Incorrect statements were issued to members on 28 April

clock 19 May 2022 • 1 min read
Trustpilot