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GP average retirement age is now just 59

Soaring numbers of GPs are retiring in their fifties because pension changes have made it unprofitable for them to carry on working, experts warn. A total of 5,117 have left since 2012-13 and their average retirement age is now just 59, and falling.

Accountants say there has been an ‘acceleration’ in the numbers retiring in their mid-fifties in the past 12 months and the issue is a ‘ticking time bomb’ for GP provision.

They put it down to the Government imposing a £1.25million cap on the amount all employees can put into their pensions over their careers. Although this seems high, many family doctors on six- figure salaries hit the limit by the time they reach their early to mid-fifties. This means there is little incentive to carry on practising.

In 2014-15, 1,697 GPs retired. This represents 5.2% of the entire workforce of 32,628 full-time GPs in England.

Source: www.dailymail.co.uk

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