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Press statement: Senior hospital doctors give cautious welcome to reports of rethink on pensions tax relief cut

The Hospital Consultants & Specialists Association has given a cautious welcome to weekend reports that the government will not go ahead with plans to drastically reduce the tax relief on retirement savings for higher rate payers – something that would have affected many senior hospital doctors.

HCSA has been among a group of trade unions campaigning against proposed changes to the current rules which it fears would act as a dangerous destabilising factor removing the incentive to save for retirement.

General secretary Eddie Saville gave a cautious note of welcome, saying: “HCSA remain committed to a fair and transparent pensions system that operates equitably for all taxpayers, whatever their income bracket.

“If confirmed when the Chancellor delivers his Budget on 15th March, the decision not to drastically slash tax relief on pensions will be welcomed by many of our members.

“However, there are still many aspects of pension issues that could have an adverse impact on the pension savings of thousands of hard-working hospital doctors, in particular further changes to annual and lifetime allowances, which have already been cut drastically.”