NHS BSA extends voluntary scheme pays deadline for second year

The NHS Business Services Authority (NHS BSA) has confirmed plans to extend the 2019/20 voluntary scheme pays deadline for NHS Pension Scheme members with an annual allowance charge until 31 March 2022.

The group confirmed that it took the decision to extend the deadline as part of efforts to help support NHS Pension Scheme members, who are continuing to deal with the impact of the coronavirus pandemic.

The extended voluntary scheme pays deadline also coincides with the deadline for clinicians applying to the 19/20 Pension Annual Allowance Charge Compensation Scheme.

The NHS BSA clarified, however, that it does not have the authority to extend the mandatory scheme pays election deadline for 2019/20 as this was confirmed in legislation, and as such the 2019/20 mandatory scheme pays deadline remains at 31 July 2021.

The scheme was previously extended amid the pandemic in August 2020, with NHS BSA stating at the time that it was "sympathetic to the situation" that NHS staff were in as frontline healthcare workers.

It was initially introduced in 2019 with the intention of relieving the pension crisis, which saw a number of doctors cutting back hours or retiring early in an effort to avoid high tax bills, with NHS providers warning of a potential "exodus of NHS leaders".

    Share Story:

Recent Stories

Opportunities within asset-backed securities
Pensions Age Editor, Laura Blows, speaks to AXA Investment Managers Alts Co-Head of Securitised & Structured Assets, Christophe Fritsch, and Senior Portfolio Manager for Structured Finance, Xavier Lassau, about the opportunities within asset-backed securities
Alternative credit
Pensions Age editor, Laura Blows, is joined by Royal London Asset Management fund manager, Diversified ABS Fund, Shalin Shah, to talk about the opportunities in asset-backed securities.

Advertisement Advertisement