The UK Government is proposing to refresh the NHS retirement scheme to draw back thousands of personnel who have retired and keep doctors and other staff from quitting because of pension tax bills, at a time when patient waiting lists are soaring.
In a recent statement, the government stated that its aim was to make it more attractive for retirees who left the health service to return, by allowing them to re-join the NHS pension plan, which provides guaranteed indexed benefits.
Additionally, in a drive to address the widespread issue of staff shortages, a semi-retirement option has also been proposed. This partial retirement arrangement would provide older employees with an opportunity to draw down some of their personal pension, while continuing to work and growing their pension pot.
Furthermore, the government is also proposing to alter current access to an NHS pension plan so that a wide range of primary healthcare workers like clinical pharmacists, general practice nurses and GPs can also sign up to the retirement scheme, which now has over one million members. The government commented that, previously, these professional groups have been required to apply for time-limited access.
The UK Health Secretary, Steve Barclay, commented:
“The generous NHS pension scheme is one of the best in the country, but it’s not working as it should for everyone.”
UK professionals often consult experts in retirement planning in Chester, Birmingham and other important cities, such as wealth managers, who help them prepare financially for when they no longer work.
