Lowest-earning GPs to pay higher pension contributions

9th November 2023 by NASGP

Lowest-earning GPs to pay higher pension contributions

GPs earning from £13,247-£17,673 will see their contributions hop from 5.7% to 6.5% from April 2024, Pulse reports.

And GPs earning under £13,246 pensionable income will also find their contributions rising, in their case from 5.1% to 5.2%.

But GPs with pensionable earnings of £75,633 per year or more will pay lower NHS pension contributions rates from April 2024.

And GPs earning £30,639-£45,996 or £58,973-£75,632 will see their rates frozen.

The number of tiers has been simplified from 11 to six for the year beginning 1 April 2024.

The abolition of the lifetime allowance earlier this year slowed the exodus of members from the NHS Pension Scheme but many remain disillusioned by the ongoing failures of the PCSE service.

Many GPs will now be awaiting compensation, due next year, through the McCloud remedy for NHS Pension Scheme members affected during the 2019/2020 tax year.

GP pension tiers in England and Wales 2024/25

Pensionable earnings Contribution rate from 1 April 2024
Up to £13,246 5.2%
£13,247 to £25,146 6.5%
£25,147 to £30,638 8.3%
£30,639 to £45,996 9.8%
£45,997 to £58,972 10.7%
£58,973 and above 12.5%

Read Ten common questions about GP locum pensions

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