How does the change to GP Pensions affect your retirement plans?

Category: Healthcare - Posted On: Jun 17 2019


Earlier this year, The Scottish Public Pensions Agency (SPPA) announced that the current rate of employer pension contributions will increase from 14.9% to 20.9% with effect from 1 April 2019.

GP practices in Scotland will receive the 6% refund for employer pension contributions on their monthly statements under ‘Other Payments’. Therefore, there should not be a cashflow issue for practices.

To read more details on how this refund is processed, please read the link here.

If you’re concerned about how this might affect your retirement plan, we invite you to a free retirement planning seminar, hosted by Wesleyan’s Financial Services Consultants, at the Apex City Quay Hotel in Dundee on Tues 18 June 2019 from 6-8pm. With a range of topics covered including strategies for maximising retirement income and early retirement options, there will be time for short Q&A sessions between presentations, where our EQ Healthcare specialists will be on hand to answer your tax queries. To register your attendance, click here.

For more information or advice regarding your pensionable earnings, please contact our dedicated EQ Healthcare team today via healthcare@eqaccountants.co.uk or call 01382 312100.