Remain afloat in retirement

Doctors will have seen many changes to their pension following the Hutton report. The Government compounded these with a fundamental shake-up of the taxation aspects. These affect the size of a doctor’s pension as well as how much can be saved each year. Ian Tongue explains the changes and how they may affect you.

The Hutton report in March 2011 was 215 pages long and looked at the funding of public sector pensions. Its impact can be easily summarised as ‘pay more, work longer and potentially get less’.