Practitioners who are members of the NHS Superannuation Scheme enjoy the occupational pension scheme’s incomparable benefits. For many retired doctors and dentists, the pension scheme means comfort and financial stability.
However, with the constantly changing global economic situation, including possible changes in the NHS Pension Scheme, it would be prudent to supplement your NHS pension with a personal plan.
For high earning medical practitioners, particularly those in the private sector, setting aside money for retirement in a personal pension is not only wise but also favourably tax efficient.
Considering that the legislations for pension contribution eligibility often change, it is crucial to seek retirement advice for doctors and dentists, especially in the current regulatory environment that limits contributions and the size of retirement funds.