MPs have once again debated the problems of retaining senior level consultants and GPs in the face of punitive pension taxes [13 July 2022].
The discussion centred on how defined benefit schemes such as the NHS pension were adversely impacted by the Annual Allowance which limits tax-free pension savings.
The parliamentary debate came on the same day that the Royal College of Physicians called for the compensation policy that allowed doctors to forego Annual Allowance tax payments for the 2019/20 tax year to be extended for the next two to three years. The temporary measure, argued the RCP, would help to retain the workforce in the face of the post-pandemic backlog.
