“Proposal to extend NHS pension rules ‘does not go far enough'”

Sep 1, 2022 | Pensions

Yet another example of one part of the NHS shooting another in the foot. In this case, desperate for staff, many departments want or need to lure back retired doctors and nurses to fill the gaps. If they do return to work, however, their NHS pensions can be reduced, making it not worth their while. In the same way that doctors working extra hours and at weekends to man clinics and clear operating backlogs,  have found themselves hammered with extra tax. Their pension contributions then break the incredibly complicated annual allowance rules making it, again, not worth their while. Luckily, many put patients above money. But they really shouldn’t have to make that choice.

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“NatWest buys 85% stake in pensions fintech Cushon”

“NatWest buys 85% stake in pensions fintech Cushon”

OK, this might not sound like a big deal, but it is, I think, the thin end of yet another wedge. Not so many years ago, when the banking dinosaurs ruled the earth, they bought life insurance companies, fund managers and even estate agents…

“Annuity rates soar to 14-year high”

“Annuity rates soar to 14-year high”

I was asked this week whether annuities are now ‘a good investment’. They’ve been recommended very rarely in recent years, since ‘pension freedoms’ allowed pretty much unlimited drawdown on pension funds and anything left to be passed on to beneficiaries free of Inheritance Tax.