Impartial Financial Planners | IFA | Fee Based | Dentists | Doctors
Providing fee based impartial financial planning services, serving dentists & medics throughout the UK
Q. With all the recent announcements regarding proposed changes to the NHS Pension Scheme, I have heard that the actuarial reduction percentages have changed for members that are looking to take benefits prior to normal retirement date. Can you please clarify the position? A. The good news is that the percentage reductions have reduced slightly. As [...]
Q. I am a 58 year old Consultant who had a family quite late. As a result we have 3 children either doing A levels or at University. We plan to pay all their course and living expenses and were wondering about taking out a life policy on my life for, say, the next 7 years ‘just [...]
If you have monies in pensions other than the NHS Pension Scheme, such as personal pensions, one day you will have to decide what to do with the funds in order to draw an income. Major pension changes were implemented on 6 April 2011, with one of these being the new ‘flexible drawdown’ facility, which [...]
Q. It seems that NHS / Private dentists can easily fall foul of the new annual pension allowance. It is interesting to know that if the £50,000 annual limit is breached we can use up unused allowance from the previous 3 years. In the light of this, can you please advise if we can use [...]
Recently we’ve touched on the subject of happiness, and what is needed to be happy, click here. We’ve also mentioned the fact that, generally, people can start to really think about living the life they love and want if they are financially secure, and feel in control of their lives. After all, it’s difficult to [...]
Q. I want to review my Inheritance Tax situation. I am a 50 year old Consultant and expect to work to age 60, if not a bit longer. Our two children have flown the nest and are independent, and my wife and I have inherited considerable amounts from recently deceased parents. So with this and a large house with [...]
Q. I am an NHS Associate Dentist and am considering changing my business structure from self-employed to a limited company. I have heard that there may be implications with regards ongoing membership of the NHS Pension Scheme. Can you please shed more light on this? A. You are right to be concerned. The NHS Pensions Agency has confirmed [...]
Q. As a 53 year old dentist working in the hospital service, I am worried that the Hutton Review on Public Pensions will affect my pension with the NHS. At present I would like to retire or semi retire at age 55, and retire fully age 60. Are my existing years service safe, and what about future [...]
Q. I am a 58 year old Consultant with a good NHS Pension Scheme ‘pot’, and as well as this have substantial personal pension funds. My worry is hearing that the limit on how much you can have in pensions is to be reduced soon. Yet I recall that the previous limit had just been introduced in recent [...]
Q. I am a Dental Principal aged 44 and am looking to save more money towards my retirement and would prefer to invest in a pension due to the tax relief available. Can you please advise me whether I should invest via a personal pension scheme or via purchasing additional pension (formerly added years) via the [...]
