Adrian Boulding: Why the tapered annual allowance has to go

'Volte-face'

clock • 4 min read

Adrian Boulding looks at the unpopular tapered annual allowance and predicts its imminent demise...

After more than a year's hard-fought campaign by the British Medical Association (BMA) on behalf of senior NHS clinicians affected by the tapered annual allowance (TAA), it seems highly likely that both the Treasury and the Department of Health and Social Care will enable changes to be made to the NHS pension scheme to limit or eliminate its negative effects. The TAA currently affects some 17,000 experienced doctors and consultants earning above the £150,000 - the TAA's annual earnings threshold. This volte-face has been brought about because the TAA breaches one of the principles of ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read
Partner Insight: Embracing the future of retirement planning

Partner Insight: Embracing the future of retirement planning

Brooks Macdonald
clock 31 October 2024 • 2 min read
Pension tax rules uncertainty shows 'need to shift retirement planning'

Pension tax rules uncertainty shows 'need to shift retirement planning'

Needs to include wider considerations of capital drawdown beyond pensions

Isabel Baxter
clock 24 October 2024 • 2 min read