NHS Pension Scheme: Tapered Annual Allowance Debate
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Andrea Jenkyns
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NHS Pension Scheme: Tapered Annual Allowance
Andrea Jenkyns Excerpts(5 years ago)
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Paul Masterton
The hon. Gentleman is absolutely right. One of the key issues is that because it reduces the tax allowance in the current year of work, it is impossible to work out what the annual allowance will reduce to, and people cannot plan. I will go on to raise some examples from my own constituents, as I am sure other hon. Members will want to do.
Andrea Jenkyns (Morley and Outwood) (Con)
A constituent told me that he has been advised to take early retirement to avoid taxes. Does my hon. Friend agree that retaining long-serving consultants with experience in their fields is vital to the NHS’s success?
Paul Masterton
My hon. Friend is absolutely right, and that is why the issue is so important. I appreciate that we are talking about people who earn a lot of money and who have good pension schemes, but there is a serious potential knock-on effect of very senior doctors turning down hours or taking early retirement.