If you are covering the annual allowance increase for doctors, please see the following comment from Alec Collie, Head of Medical at Wesleyan Financial Services:
"For clinicians, today’s increase to the annual allowance hasn’t come a moment too soon. Coupled with the scrapping of the lifetime allowance, these measures should reduce the number of doctors choosing to leave their pension scheme, cut their hours or quit the NHS altogether because of high pension tax bills.
"We’ve been calling for an increase in these allowances for some time now and are pleased to see the government taking action.
"These changes will make a real difference to many doctors when it comes to the chance of receiving pension tax charges.
"We know many have already left the NHS Pension Scheme to try and avoid these charges and they should consider getting advice on re-joining the scheme to get access to valuable benefits."
For more comments from Wesleyan, contact our PR Manager, Nicola Pledger.