NHS staff breaching annual allowance reach for scheme pay options

38% with scheme pays option breached AA

Hope William-Smith
clock • 2 min read
The impact of the tapered annual allowance is clear after a 27 percentage point increase in NHS staff who exceed the pension annual allowance electing voluntary scheme pays, Quilter says.
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The impact of the tapered annual allowance is clear after a 27 percentage point increase in NHS staff who exceed the pension annual allowance electing voluntary scheme pays, Quilter says.

The impact of the tapered annual allowance is clear after a 27 percentage point increase in NHS staff who exceed the pension annual allowance electing voluntary scheme pays, Quilter has said.

The wealth manager found 38% of NHS staff who breached the allowance in 2018/19 elected for the scheme pays option, up from 11% in 2015/16. The option allows savers to settle annual allowance tax charges...

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