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Paul Gordon, Medical Specialist Financial Planner (and pensions expert) joins Ben on this week’s podcast to give an update and an overview on the GP pension scheme as it stands; how to check on your own pension position, understanding and avoiding the financial landmines and how to access further information and support.
Which changes have caused the biggest problems? (0:52)
Impact on high earners; the tapered annual allowance (1:19)
Be aware: how much tax will I (or do I already) owe? (1:51)
Can I get ahead of the problem? (2:36)
How to get an update on my current pension position; contacts and red flags (2:54)
Options to lessen the impact of the annual allowance (6:11)
Less = more? (6:16)
The threshold income + pension growth (7:40)
What are the alternatives to cutting my hours? (9:30)
Forthcoming changes and the timeline for changes (10:22)
If I’ve incurred charges, how do I get my money back? (11:41)
How to avoid potential pension penalties (13:16)
Where can I get more information and what can I do now? (16:22)
The employer and employee conundrum (19:11)
Getting in touch (20:36)
Please find below the link Paul mentions regarding the 2019/2020 Annual Allowance Charges.
Statement from the Secretary of State on the Clinician Pension Tax Scheme
Accessing Pension Estimates
www.totalrewardstatements.nhs.uk
Requesting Annual Allowance Growth Figures
NHSPA – 01253 774774
And finally, Paul’s direct contact:
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