Ben is joined once again by NHS pensions expert, Paul Gordon. Paul returns to the podcast to discuss new changes to the NHS pension scheme. Ben and Paul last spoke in December 2022 prior to the consultation taking place. The consultation completed at the end of January this year and as of the 7th March feedback has been shared. Paul communicates the outcome from the consultation and explains the proposed changes in relation to the flexibilities around retirement, tax charges and the impact of the changes on staff.  

 

Introduction (0:09)

 

Consultation outcome.. (0:39)

 

Introducing new flexibilities to retirement.. (1:36)

 

How does this make things easier? (2:54)

 

Pensions and a full salary income.. (3:32)

 

Tax implications.. (4:56)

 

Lifetime allowance.. (8:02)

 

Total rewards statement.. (10:51)

 

How to calculate the best outcome for you? (13:11)

 

Changes to 24 hour retirement.. (16:39)

 

Risks in single handed practices and small practices.. (19:20)

 

Effects of inflation.. (22:06)

 

Widening the access to pension scheme (25:32)

 

When will the changes be applied? (27:41)

 

Accessing your Total Rewards Statement

 

To contact Paul directly: [email protected]

 

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