01202 606970

Get in Contact

A professional team with experience of both NHS and private medicine

Click here to contact us now »

POSTED IN:
Uncategorized

Important Changes to NHS Pension Scheme Contributions & Rates from 1 April 2015

by admin, on 20th February 2015 | 0 comments

Sadly this is not an April Fool …..

From 1 April 2015 the pay figures used to set the contribution tier rate for all Practitioners and non-GP Providers who start or leave in year is annualised.  This is a departure from the position that has been adopted for the last few years and will have a significant impact on the tiered contribution rates payable by some.

For example, a GP retiring on 30 June 2015 with Superannuable Profits of £30,000 would previously have made employee contributions at 9.3%. This change will mean that the Superannuable Profit should now be annualised to a notional figure of £120,000 and be subject to the 14.5% rate and will increase the employee contributions payable by £1,560!

A similar situation can also arise when a GP joins a practice.

For more information on how these changes might affect you or your practice please contact Richard Hilling at [email protected]

What's your opinion?

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

* Required fields