Bid to fix pension crisis ‘won’t work’

By Edie Bourne

Doctors who are choosing to cut their NHS hours or retire early due to punitive tax charges on their pension savings have given the thumbs-down to Government proposals to introduce a ‘50:50’ savings option. 

Already in use for staff pensions in local government, the scheme allows members to contribute half the normal level of input in exchange for half the accrual. 

The idea is part of a wider consultation to ease the current pressures on the NHS workforce – but critics say it does not go far enough.