Survey results - impact of the pension lifetime and annual allowance on the NHS
31 July 2019
The tax implications of the lifetime and annual allowance on clinicians who are members of the NHS pension scheme has been in the press recently.
The HFMA surveyed senior finance staff to understand what that means for the NHS, in particular, workforce and service delivery. This briefing summarises the results of that survey.
HFMA members are concerned about the impact that this taxation policy is having on the health service. They are reporting that it is impacting on both patient care and the financial position of the NHS body.
Members have also identified that this is not an issue for clinicians alone and any proposed amendments to resolve the issue should be open to all. It is not clear whether the proposal currently open to consultation will resolve the current problem.
Members have also identified other issues relating to pensions which are less high profile.