NHS workers account for third of pension annual allowance breaches

Analysis by Quilter found at least 34% of all people who exceeded the annual allowance (AA) in 2019/2020 were members of the NHS pension scheme. HMRC data showed that 42,350 taxpayers reported pension contributions exceeding their AA through self-assessment. The total value of contributions reported as exceeding the AA was £949m in tax year 2019/20, which increased from £819m in 2018/19. According to a Freedom of Information request (FOI) to the NHS Business Services Authority (NHSBSA) by Quilter, some 14,242 NHS pension scheme members used the NHS scheme pays facility in respect of a...