MPs have once again debated the problems of retaining senior level consultants and GPs in the face of punitive pension taxes [13 July 2022].
One major factor discussed was the unsuitability of the Annual Allowance (which limits tax-free pension savings) when applied to defined benefit schemes such as the NHS.
The Royal College of Physicians has also 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.
Although the RCP would prefer a longer-term solution to be implemented, this temporary measure would help to retain the workforce as the enormous post-pandemic backlog is tackled, it says.
