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Wesleyan Comments on BDA Research

By Michael Copeland

Wesleyan Comments on BDA Research

Comment in reaction to the BDA's research that nearly half of dentists indicate that they are now likely to change careers or retire early if current COVID restrictions remain in place, and that two third will not meet imposed activity targets:

Michael Copeland at Wesleyan Group, the specialist financial services mutual, said: "The BDA's findings paint a worrying picture of a frontline service under significant pressure.

"NHS England's March hike in the UDA levels that dentists need to hit to avoid funding clawback - from 45% to 60% - prompted significant concern from the sector. This research shows that fears of falling short will become the reality for many - putting their finances under further pressure during a critical period for practices' recovery, and potentially putting the viability of their entire businesses, at risk.

"In these conditions, it's not surprising that many are considering stepping back for good. As well as putting strain on the country's ability to provide the required volume of dental care, it could also mean that some dentists take the retirement plunge before they are fully ready - feeling as though they have no other option in such an unfavourable environment.

"For those considering early retirement, moving into wholly private practice or changing career, reviewing how it will affect your personal financial situation is an essential first step. Speaking to a professional adviser who understands your circumstances can help put an effective and sustainable plan in place."

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'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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