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Providing fee based impartial financial planning services, serving dentists & medics throughout the UK
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 [...]
No doubt you are aware that more proposed changes to pensions has been announced by the Government. The good news is that the Coalition has attempted to simplify matters, which is very welcome after Labour’s legacy of the anti-forestalling legislation (how complicated does it need to be?). Let’s take a look at the main changes [...]
Q. I wanted to know if tax relief is available when additional pension is bought from the NHS scheme as it is when putting money into a personal pension. I have a children only dental contract and do not make the same contributions as I did when I fully worked as an NHS dentist. I am not [...]
Q. I’m aware that I’m not going to accrue the full 40 years in the NHS Pension Superannuation Scheme as I did not qualify until I was aged 25. I’ve heard about buying ‘added years’. Can you tell me how to go about this? A. Until April 2008, buying added years was available. Many people [...]
If you are a member of the NHS pension scheme, you will soon be asked to make a very important decision. That is, should you remain in the current version of the scheme (applies if you were a member pre-April 2008) or should you transfer to the new version (post-April 2008). To help, the NHS [...]
There have been many changes in overall pension rules by the government, and we have discussed in Financial Tips how this has affected the NHS Pension Scheme in previous articles such as the Lifetime Allowance. Other NHS rule changes might not be so obvious, but for the unfortunate few who fall ill, have a serious [...]
