BMA Welsh Council response to today’s pension taxation reform

Press release from BMA Cymru Wales.

Location: Wales
Published: Wednesday 15 March 2023
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BMA Cymru Wales Chair Dr Iona Collins said:

“We’re delighted to see that our hard work and persistence has prevailed.

“Today, the Chancellor has announced that the annual allowance is now £60,000 and the lifetime allowance has been completely scrapped. This is the result of years of campaigning by the BMA across all nations and governments.

“This move will now allow more senior doctors to work without penalty. This is a significant step forward for doctors but also for the thousands of patients on waiting lists who will benefit from the care, expertise, and experience of the country’s most senior doctors.

“I thank the Chancellor for acting decisively with respect to pension taxation and this should help doctors to avoid taking early retirement as a direct consequence of the previous pension tax thresholds.

“It has not, however, addressed tapered annual allowance and this will continue to cause detriment to some of our members. We will continue to engage with Welsh and UK governments in order to make further adjustments, so that a truly fair pension deal is finalised.

“Today’s announcement will enable more senior doctors to continue to provide their invaluable expertise to the thousands of patients waiting for their care”

Notes to editors

The BMA is a professional association and trade union representing and negotiating on behalf of all doctors in the UK. A leading voice advocating for outstanding health care and a healthy population. An association providing members with excellent individual services and support throughout their lives.

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