Remedial Pension Savings Statements: what to do if you receive a brown envelope

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By Andy Pow

In the past month, many doctors have received letters from their regional pensions agencies setting out revised annual allowance pension growth calculations following the rollback of their pension record into the legacy pension schemes as part of the McCloud rectification process. This will require doctors in receipt of these letters to take action in respect of their tax.

Who is impacted?

The pension rectification process impacts anyone who was in the NHS pension scheme prior to 1 April 2012 and transitioned to the 2015 section of the scheme between 1 April 2015 and 31 March 2022 (the remedy period). The tax part of the process then only affects people who have been subject to an annual allowance pension tax charge or could be subject to an annual allowance pension tax charge following the rollback. Those people will receive a letter called a Remedial Pension Saving Statement (RPSS).

What to do next?