Access to pensions tax guidance and advice

tablet and paper work

We have compiled a list of organisations who are able to give expert guidance and advice on pension tax issues for members of the NHS Pension Scheme. This web page has been developed to support employers to provide access to education, guidance and advice. 

We are not promoting or recommending the use of any organisation and may amend or update this list at any time.

Our research into the impact of pension taxation on the NHS shows there is a clear lack of knowledge and understanding about the NHS Pension Scheme and associated tax issues. Employees need to understand their tax position, be aware of the options available to them and the action they may need to take.

Pension tax is a complex area and we strongly encourage employees take independent financial advice to ensure their decisions are well-informed, based on reliable and accurate information and positioned in the context of their overall long-term financial position. 

Barnett Waddingham

We understand the challenges facing senior NHS staff in managing the tax imposed by the complex pensions taxation legislation and we provide a specialised service to meet each individual’s requirements. Our briefing paper for senior NHS staff is available here.

BW Medical Accountants

NHS Pension Management Service & Consultancy/Educational support for Trusts. We have a unique forecasting model to help ensure we can stay ahead of any issues that may arise as a result of the continually changing landscape. We initially flagged the catalogue of errors being made by the NHS Pension Agency when issuing statements years ago, information provided by NHSPA is unreliable and continues, at times, to be inaccurate. Our initial step is to reconcile your pension data to ensure your starting figures are accurate! This is key to understanding your tax position and being able to make informed financial decisions.

Cavendish Medical

Cavendish Medical helps doctors to strategically plan their pensions, tax liabilities, savings and investments in order to achieve their desired lifestyle in later life. The financial landscape for medical professions is facing constant change and as you will have seen in the media recently, the tax position of successful doctors can be punitive. Talking to one of our advisers with expert knowledge of not only the NHS remuneration and pensions package, but also the wider financial industry will give you complete peace of mind that your personal objectives will be met.

Charles Derby

National network of specialists providing comprehensive financial planning services, tailored to Medical Professionals, covering NHS Pension, Wealth Management, Protection and Mortgages. Our bespoke pension report helps put you in an informed position, projecting your benefits and projecting Annual and Lifetime Allowance, so that you do not sleepwalk into large tax bills. Our services also include; working directly with NHS Trusts, pension analysis via salary sacrifice, pension drop-in clinics at your place of work and workplace seminars on all aspects of financial planning include NHS Pension taxation. Charles Derby is owned by Quilter Financial Planning, part of Quilter plc.

Chase de Vere

We are the UK’s largest specialist independent financial advisers to the medical profession. We have provided tailored financial advice to over 14,000 medical practitioners. We are experts in the NHS Pension Scheme, yet our advice for doctors is holistic, taking stock of the most effective private pension options and additional saving strategies to maximise your retirement resource. Our extensive experience and independent advice means your planning will be bespoke to your personal and professional circumstances.

Cormack Wealth Management Limited

Peter has been a Financial Adviser for 19 years and he has extensive experience in providing private clients with financial planning advice and investment planning services. During his career he has built up strong, long-standing relationships with his clients helping them track their long-term goals and objectives.

First Actuarial

First Actuarial is the independent actuarial adviser to the Scheme Advisory Board of the NHS Pension Scheme. Using our experience, we work with NHS employers and their staff to help them understand and value the benefits that the NHS Pension Scheme provides. We also support employers by guiding consultants and senior managers through the complexities of pensions tax allowances – both in group seminars and one-to-one guidance sessions.

Golding Smith & Partners

Golding Smith & Partners provides members of the NHS Pension Scheme with expert, independent pensions advice.   Our standard review provides you with an in-depth, tailored analysis of your NHS pension with detailed projections.  You will see how your pension will grow, and we will identify any tax issues and how they can be managed.  Fuller information on the range of services that we offer to NHS professional staff can be found on our website.  We are always happy to help and answer any questions by email or telephone.

Henry Spain

Henry Spain is an independent financial adviser and discretionary investment manager with offices in Market Harborough & Oakham. We work with medical professionals across the Midlands to plan for retirement, mitigate tax and protect their financial wellbeing. We work with you over the long term and build a relationship of trust, where you can have confidence in the advice you receive. In the complex world of pensions, tax and investing, our clients find our personal and straightforward approach to financial advice refreshing. If you’d like to see how we can help you, then contact us using the details provided.

Income for the Third Age

We specialise in NHS Pensions tax advice and provide group seminars and individual support as well as helping Trusts understand their responsibilities and what options they can explore.

KPMG

KPMG provides group seminars and individual information sessions which a provide an introduction to and detail on the current pensions tax rules as they apply to NHS Pension Scheme members. These sessions are delivered through KPMG’s Public Service Learning platform and will shortly be available for individuals to register as well as employers on behalf of their members.

KW Wealth Planning Limited

Kingswood Group provide a full range of financial planning and wealth management services to medical professionals to meet their financial needs and circumstances. We have years of experience dealing with NHS Pensions, and we provide holistic advice for doctors, surgeons, consultants, and dentists who are looking for retirement planning advice.

We pride ourselves in having an expert understanding of the financial situations and lifestyles that medical professionals face and can offer sound, impartial, specialist advice based on many years of experience.

Lighthouse Financial Advice   

Financial peace of mind – make it happen!  You work hard for your money, but is your money working hard for you? We specialise in helping NHS staff make the most of their money. The advice we provide is practical, affordable and specific to you. Whether you are starting out or approaching retirement we can help you. Book a no obligation, initial consultation with one of our professional financial advisers now. Call 08000 85 85 90 or email appointments@lighthousefa.co.uk
Lighthouse Financial Advice is an appointed representative of Lighthouse Advisory Services, which is authorised and regulated by the Financial Conduct Authority. www.lighthousegroup.plc.uk/privacy-policy

Lloyd and Whyte

Lloyd & Whyte have spent over 20 years helping healthcare professionals make informed decisions about their finances. With a history of advising NHS dentists, their Independent Financial Advisers have the expertise to help NHS pension scheme members understand their pension and how it fits with their financial objectives. Lloyd & Whyte are approved providers of financial services to prestigious healthcare associations as well as being Corporate Chartered Financial Planners. A combination of expertise and experience in your industry is why Lloyd & Whyte are trusted by thousands of healthcare professionals.

Medics' Money

Medics' Money is a doctor led initiative to help doctors and other NHS professionals find the best pension advice. Our nationwide network of independent specialist medical financial advisers and accountants are verified by us, with reviews from doctors and other NHS professionals. Our free matching service allows you to find your nearest suitable adviser.

Moore & Smalley

Our dedicated healthcare team act for over 800 healthcare clients across the UK. Our specialist knowledge is pivotal in our clients personal and professional success. Some of the areas we specialise in are:

  • Obtaining pension update forecasts from NHS Pensions Agency in order to consider projected benefits on retirement.
  • Obtaining pension update forecasts from NHS Pensions Agency in order to consider projected benefits on retirement.
  • Assistance with drawing your NHS benefits on permanent retirement or 24 hour retirement.
  • Assistance with superannuation forecasts
  • Calculating appropriate estimates of pension and lump sum to assist in retirement planning.
  • Assistance in calculating exposure to Pensions Annual Allowance tax charges and Lifetime Allowance tax charges.

Niche Pension Specialists

As Chartered Financial Planners and Pension Advice Specialists, we can provide independent fixed fee financial advice tailored to your situation. So whether you wish to continue to work and accrue benefits whilst being aware of the tax implications or seeking to retire early, we can help. Plus, as an employee owned business, we’ll go above and beyond to provide you with a great service, ensuring you receive the highest quality financial advice.

Pen-gage   

Pen-gage can offer Trust wide group pensions tax guidance seminars, explaining the rules and principles of pensions tax, along with one-to-one guidance sessions, setting out individual annual and lifetime allowance calculations and options available.

PKF Francis Clark

PKF Francis Clark are the largest firm of accountants in the South West region. We act for many GPs and consultants and have developed an expertise in advising clients on their exposure to annual and lifetime allowance charges arising from their membership of the NHS Pension Scheme. We have had success in challenging and correcting Annual Allowance Pension Savings Statements resulting in significant savings for some clients. If authorised financial advice is required, this can be provided through our sister company Francis Clark Financial Planning Limited.

Regency Financial Planning

I am a Chartered Financial planner at  Regency Financial Planning I Joined Regency 3 years ago following a successful career with an international bank. I Provide holistic financial planning across a range of financial needs and concerns relevant to NHS employees.

RTS Financial Planning

I want to ensure you get the rewards you deserve out of life. I specialise in working with Directors and senior NHS staff, helping them transition into retirement. Ensuring their funds do not run out before they do and so they can leave a legacy for their loved ones. I will ensure you and your family are invested properly according to the risks you are comfortable with. My company only charges fixed fees that are fair and transparent. This will ensure you are much better off in the long run compared to other Financial Adviser charging models.

Simon Bell, Partner of St James’s Place Wealth Management

Simon has an excellent understanding of the unique financial circumstances facing NHS Professionals and an in-depth knowledge of NHS Pensions and benefits. Simon will build a long-term relationship with you to fully understand your situation creating a bespoke financial plan that will help you to achieve the lifestyle you desire.

Simon is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website.

Swallow Financial Planning

Andrew has a long history of advising both NHS and USS members with regard to their financial affairs much of this work has been concerning Lifetime Allowance (LTA) and Annual Allowance (AA) issues.  He is highly qualified and is able to advise on all aspects of your financial affairs. Andrew is happy to provide an initial telephone chat or face to face meeting an no charge.

Tilney

Tilney’s specialists work with medical professionals on retirement planning and the NHS pension scheme – from calculating allowances to protecting pensions against tax charges.

Total Wealth Planning

Total Wealth Planning is a holistic Chartered Financial planning company which has extensive knowledge of the complex NHS pensions schemes.

This has recently been exacerbated since the April 2016 changes in pension legislation including:

  • The standard Annual Allowance (£40,000) rules reducing to £10,000,
  • Tapered and Adjusted Annual Allowance for many high earners,
  • Lifetime Annual Allowance rules affecting long term NHS employees and high earners.

We have been meeting high earning and senior NHS members of staff for many years. We help with Financial  planning and guiding them through the current and potential adverse effects of the above pension legislation.

Wesleyan

Providing financial guidance and expert advice on the NHS Pension Scheme to medical professionals, from graduation to retirement and beyond. To access further information or to request your no obligation appointment, visit www.wesleyan.co.uk/nhsps.

Further information

Visit our annual and lifetime allowance resources in our pension resource library to support your conversations with staff. 

Please tell us what you think about our products and resources by emailing pensions@nhsemployers.org.

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