We can help with: 

• NHS Additional Pension 

An NHS Additional Pension provides members with an opportunity to increase their Scheme Pension by paying in additional contributions. It’s a flexible scheme and it is clearly defined at the outset how much, in current pension terms, the purchase is worth and how much it is going to cost. We support our clients in reviewing their overall pension strategy, understanding the NHS additional pension scheme, carrying out calculations and explaining exactly how they could benefit from an increased provision in retirement. We have lots of experience working with clients who have opted to take advantage of the Additional Pension scheme and we would always recommend taking advice, considering all the options before purchasing a private pension. 

• Pension annual allowance and pension carry forward

We work with clients to understand their personal circumstance to understand the allowances available to them. We also take into account the tax consequences of any recent pay rises and any increase to your pension benefits provided by the NHS scheme when you retire. Importantly, If there has been an increase above the annual allowance available to individuals, we work with clients to ensure they fully understand the implications and consequences of this. 

• Helping individuals plan around their lifetime allowance and exceeding this 

The lifetime allowance is the amount of pension benefits an individual can draw from their pension schemes free of any additional tax charges. Whilst most individuals will not exceed their lifetime allowance, it is important to understand the implications if they do. We work with clients to ensure they plan sensibly and do not unknowingly pay excess tax charges. 

• Helping clients determine how and when they might be able to retire

Helping clients decide how and when they might retire is one of the most common discussions we have. We take a long-term approach and aim to support clients in achieving the retirement they want and helping to map out the financial side of retirement. 

• Implementing financial protection for employees and their families 

Whilst NHS employees do receive some level of protection through their employer, this is usually designed for ‘every’ employee, and does not take into account an individual’s personal circumstances or financial situation. Discussions with our clients frequently cover: 

• What happens to your loved ones if you die prematurely? 
• Will there be sufficient household income to ensure any children are looked after while still in education?
• Are loved ones protected from any debts you might have, be that mortgage, loans or credit cards? What if you’re off work for a long time? 
• Who can help deal with assets and estates on death? 

• Inheritance planning 

Many clients don’t think they are at the stage when they should be considering inheritance tax planning. However, we find that approaching this early on can help clients get a clear picture on what the future might look like and how to plan for both the expected and unexpected. We can work with you to fully understand your unique set of circumstances and to help you plan for any eventuality, whether it’s planning for your parents, or for your children.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.