It appears many Consultants and senior NHS staff are opting out of the NHS Pension which means they are leaving the scheme. This in turn means they lose future benefits. 

The main reason for this is the increase in tax bills many are facing as a result of a change to the pension Annual Allowance rules.

There’s also another group of members who appear to be opting out at an increasing rate. Younger NHS staff who don’t feel they can afford the contribution levels they need to make and/or don’t understand the benefits. 

Opting out could be a terrible mistake.

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