Higher GP pension tiers launch amid jobs crisis

25th March 2024 by NASGP

Higher GP pension tiers launch amid jobs crisis

GP pension contribution rates will rise for thousands of GPs from Monday 1 April onwards after the tiers were rationalised to just six levels.

As NASGP reported in November, GPs earning from £13,247-£26,831 will see their contributions jump from 5.7% to 6.5%. GPs earning under £13,259 pensionable income will also find their contributions rising, in their case from 5.1% to 5.2%.

The higher tiers may cause dismay and anger at a time when many report a struggle for work. Some GPs have even turned to non-medical work in the gig economy to pay the bills.

Dr Richard Fieldhouse, NASGP chair, said: “This is a simplification that wasn’t asked for, with extra costs hidden into the restructuring.

“Not that it’s any solace, but the NASGP team have been busy weaving in these new changes into LocumDeck, so at least it won’t incur any extra admin work.”

GP pension tiers in England and Wales 2024/25

Pensionable earnings Contribution rate from 1 April 2024
Up to £13,259 5.2%
£13,260 to £26,831 6.5%
£26,832 to £32,691 8.3%
£32,692 to £49,078 9.8%
£49,079 to £62,924 10.7%
£62,925 and above 12.5%

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Dr David Williams, GP, Wales

Dr David Williams, GP, Wales

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