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In this episode, Tommy Perkins and Dr. Tony Goldstone discuss the complexities of NHS pensions, particularly focusing on the punitive annual allowance tax bills that many healthcare professionals face. Dr. Goldstone introduces a new web-based tool designed to help individuals calculate and predict their pension growth and tax liabilities. The conversation delves into the structure of NHS pensions, the challenges of understanding annual allowances, and the importance of accurate data in financial planning. The episode also highlights various tax traps that can affect take-home pay and emphasises the need for proactive management of pension-related issues.

00:00 Understanding NHS Pension Challenges 07:38 Introducing the New Pension Tool 15:16 Navigating Complex Pension Scenarios 23:44 Navigating Tax Charges and Scheme Pays 30:59 Understanding the 100K Tax Trap 37:44 Addressing Employer Errors and Back Pay 43:45 Revisiting Scheme Pays and Individual Circumstances