Doctors reduce their hours to avoid punitive pension tax bills

About three quarters of GPs and hospital consultants have cut or are planning to cut their hours because of the doctors’ pensions crisis. About 42% of family doctors and 30 % of consultants have reduced their working times already, claiming that they are being financially penalised the more they work. A further 34% and 40 per cent respectively have confirmed that they plan to reduce their hours in the coming months because they fear losing out, according to a survey of more than 6,000 doctors by the British Medical Association.

The government has launched an urgent consultation over the issue, which is the result of changes to pension rules limiting the amount that those earning £110,000 or more can pay into their pensions before they are hit with a large tax bill.

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Source: The Times, 1 August 2019