Planning for Retirement

Are you thinking about retiring? 

Contemplating retirement for some can feel daunting having devoted most of your life to a career you love. For others leaving the demands and challenges of the role can be an occasion to celebrate and focus on a new chapter of life. On this page you will find useful resources, checklists and signposting to support you and your practice during this period. 

Retirement of a GP

Practising GPs are intending to retire within the next five years. If you are one of them, and whether you are single handed or in partnership, the guide below will help you work your way through to the finishing line.

Checklist

Want to retire early?

Visit the BMA website to read all about voluntary early retirement, pension reductions and when to apply.

BMA

GP Pensions

GPs who are members of the NHS Pensions Scheme as a GP Partner, Salaried GP or Locum GP, can now use PCSE Online for a number of administrative tasks including submitting End of Year pensions certificates and Self-Assessment forms.

Please note, PCSE pensions services only cover work conducted for NHS England and NHS Improvement in Primary Care setting. We do not cover wider NHS Pensions activity such as for NHS Trusts or in secondary care.  A full NHS Pensions overview, including your Annual Benefits Statement of Total Rewards Statement can only be provided by the NHS Business Services Authority. Find out more here.

Helping you understand pension contributions

Contact NHS Pensions – members
GP Partners & Non-GP Partners

As a GP Partner or non-GP Partner, you need to complete a Type 1 Annual Certificate of Pensionable Profits for each financial year. This ensures that all NHS pension contributions have been correctly paid, by yourself and your employers, and allocated correctly to your NHS Pension Scheme record. You must submit your certificate by 28 February each year.

Please note: Pension records can only be updated sequentially. This means that, if any certificates from previous years are missing, the most recent years will not show on the system. For instance, if a certificate is missing for the year 2015/16 then the ABS will only reflect the pension figures up until 2015, even if the certificates for more recent years have been submitted. If you are aware of any previous years that are missing certificates, please submit the appropriate form for the missing year.

You can now access new services to manage your Pension online – click here and use the tiles below to find out more about the new online pensions service from PCSE.

Salaried GPs & Assistant GPs

As a Salaried or Assistant GP, you will need to complete a Type 2 Self-Assessment of Tiered Contributions for each financial year, so that NHS England and NHS Improvement can ensure that all NHS pension contributions have been correctly paid, by yourself and your employers, and allocated correctly to your NHS Pension Scheme record. You must  submit your 2019/20 Type 2 Medical Practitioner Self-Assessment form by 28 February each year.

It is a condition of that a GP must proactively liaise with relevant NHS organisations to ensure they have paid the correct tiered contributions ‘across the board’. Failure to comply with the NHS Pension Scheme Regulations may result in pensionable pay provisionally set to zero for the relevant period. It is a legal requirement for GPs to complete and submit the self-assessment form each year.

Manage Pensions with the new online service via PCSE Online – click here and use the tiles below to find out more about the new online pensions service.

GP Locums

Submit your Locum A&B forms via PCSE Online

As a GP Locum, you can elect if you wish to pension individual periods of work.  You can submit Locum A and B forms via PCSE Online.

Click here and use the tiles below to find out more about the new online pensions service or to find out more about the current way to pay your pension contributions and to submit your Locum forms.

BHP – GP Retirement Webinar

Having second thoughts? 

National GP Retention Scheme

The scheme is aimed at doctors who are seriously considering leaving or have left general practice due to personal reasons (caring responsibilities or personal illness), approaching retirement or requiring greater flexibility. The scheme supports both the retained GP and the practice employing them by offering financial support in recognition of the fact that this role is different to a ‘regular’ part-time, salaried GP post, offering greater flexibility and educational support.

To read more and find out if you are eligible visit NHS England » National GP Retention Scheme