GP pensions: Treasury is sympathetic to call for action on unfair tax charges

The Treasury has agreed to look at one quirk of the NHS Pension Scheme that leaves some doctors subject to unfair pension tax charges that are based on “pseudo-growth” of their pensions but is resisting other short and long term amendments to pension rules that the BMA is lobbying for.1Richard Fuller, economic secretary to the Treasury, made the commitment during an adjournment debate at the House of Commons that was called to highlight the detrimental effect that soaring inflation will have on the medical workforce, by forcing doctors to cut their hours or retire early.Dan Poulter, a doctor and the Conservative MP for Central Suffolk and North Ipswich, who secured the debate, blamed “punitive and unfair interplay between longstanding government pension taxation policies and the NHS pension scheme” for forcing many senior doctors to consider taking these “drastic steps.” He warned that, with inflation at more than 9% this year,…
Read Original Article: GP pensions: Treasury is sympathetic to call for action on unfair tax charges »