The government has been urged to extend the scheme pays deadline for NHS Pension Scheme members in light of the Covid-19 crisis.
In a letter to chancellor Rishi Sunak, health and social care secretary Matt Hancock, and economic secretary to the Treasury John Glen, Quilter called for a six-month extension overall, or a later deadline for the NHS Scheme in particular. This would be allow for retrospective NHS scheme pays elections within the same four-year time period that is available for those who are able to amend an existing election, the firm said. Scheme pays allows annual allowance charges of more than £2,000 to be settled through the pension scheme, rather than the member needing to find cash upfront. Man...
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