Impartial Financial Planners | IFA | Fee Based | Dentists | Doctors
Providing fee based impartial financial planning services, serving dentists & medics throughout the UK
Tweet Q. I don’t know if this is a question for the newsletter but here it is! As a 40% taxpayer and member of the 1995 NHS Pension Scheme, I have been advised to fully commute my NHS pension and use any lump sum I receive to generate income when I retire. Does this make financial sense [...]
Tweet Q. I am concerned that I may have exceeeded the pensions annual allowance of £50,000 in the tax year 2011/12. I am aware of the ‘carry forward’ facility that will enable me to use up unused allowance (assuming there is any) in the previous 3 years. How can I obtain the necessary figures for the previous [...]
Tweet Q. I have heard from a colleague that it’s possible to allocate part of my pension to my spouse when I retire. As she is a basic rate taxpayer will this mean we can pay a lower rate of tax on the money I allocate to her? A. It is possible to allocate up to 1/3 [...]
Tweet On March 9th the Department of Health released a Proposed Final Agreement document for the NHS Pension Scheme following many months of debate. Basically, it’s the governments final offer on what the NHS pension scheme will look like after 1 April 2015. The headline contents haven’t changed at all since the previous iteration of [...]
Tweet 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. [...]
Tweet Since I last ‘put pen to paper’, much has been going on. Firstly, the strikes. Whether you agree with them or not, the ongoing pensions debate was the root cause for many public sector workers walking out. With regards to the NHS Pension, the amount you are contributing is due to increase in April [...]
Tweet 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 [...]
Tweet 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 [...]
Tweet 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 [...]
Tweet 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 [...]
