Articles on pensions can often seem inaccessible and for all the complexity this timely paper from HFMA is worth a detailed read.

In a simplistic summary, changes to pension tax allowances are impacting doctors with a range of unintended consequences. Much has been written on shortage of GPs and doctors. Anecdotally, we are hearing that the impact of the pension allowances includes GPs retiring early to avoid the lifetime allowance issue or doctors who work additional sessions to clear waiting list backlogs being caught by the annual allowance. For a health sector trying to manage a range of challenges, revisiting pension tax allowances seems a pragmatic next step.