Due to the extensive changes within the NHS Pension together with current and historical legislative changes to pension provisions, it is imperative that Medical Professionals review and assess their existing arrangements (both NHS and private).
New rulings can have a detrimental impact on your provisions but at the same time some opportunities if acted on appropriately. Alternatives are available to compliment your existing Pension provisions. Now is a more prudent time to re-appraise traditional routes as there are alternative methods to maximise tax efficiency.
Due to work commitments and the ever increasing challenges of working within the NHS, I can appreciate that your personal wealth management and security may not receive the full attention that it deserves.
Just like people’s health, regular reviews of your current retirement provisions are paramount to ensure that you stay ahead of the game and ensure that current and changes in provisions and legislation are adhered too.
Please consider the following:
- How do these new rules affect you and do you have a full understanding of them in relation to your current retirement plan?
- Have you got an idea of when you would like to retire? What provision have you already achieved and what shortfalls currently exist?
- How can taking advantage of currently legislative changes better address your current retirement plan strategy?
- What is your Lifetime and Annual Allowance and what are the tax charges for breaching these limits
Due to the complexities to the NHS Pension Scheme and the wider Pension legislative changes, I can offer you a bespoke Pension Assessment to help you find answers to these important questions. The service will offer:
- Review and Valuation of the NHS Pension (thought the Total Rewards Website), including lifetime allowance implications.
- Review of your existing private schemes (Including details of charges, fund assessment and growth achieved)
- Recommendations of any shortfall in provision allowing for new rules.
A no-obligation review will produce a detailed report of your current retirement provisions and recommendations of any changes required given the new rules.
If you do feel that my services may be of help, please do contact me – I look forward to hearing.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.