08 September 2023
If you are covering the conclusion of the NHS Pension Scheme consultation into the McCloud remedy and the proposed changes, please see the following comment from Graham Crossley, NHS pensions expert at Quilter:
"The McCloud remedy measures for the NHS Pension Scheme, as outlined in the consultation are positive and forward-looking. It's heartening to see the Department of Health and Social Care (DHSC) taking an active stance in genuinely listening to the feedback from the consultation. Recognising the extensive efforts of the unions and other stakeholders in highlighting the myriad of ways members could have been financially disadvantaged, it's commendable that the DHSC seems to have integrated the majority of their suggestions to address the discrimination.
"This is an incredibly complicated area of pension planning and taxation. Given the nuanced financial implications of these changes, there's a pivotal role for financial professionals in this landscape. Their expertise can provide invaluable guidance and support to members, ensuring that they make informed decisions that safeguard their financial well-being in the years to come."
