Retrospective Tax on Pensions for NHS Doctors

Can NHS Doctors Claim Retrospective Tax on Pensions?

The Tax Scandal invented by George Osborne (as discussed in the Guardian) taxes money already built up in an occupational pension at 55%. Retrospective Tax on Pensions worthy of a “banana republic” has not been revoked but gives a window to obtain compensation in cash – it may not last long so there is an urgent need to act now for any mis-sold pension.

Many thousands of Doctors newly qualified in the 90’s were targeted by companies such as Allied Dunbar, Wesleyan, Lincoln National (Now Sun Life Financial of Canada), also sold by, City Financial, Verdi, Bowker & Bowker, and sold Free Standing Additional Voluntary Contribution (FSAVC) pensions. Most doctors should make a claim for compensation. However, there is a catch – TIME BARRING – if applied prevents any claim for a product sold over 15 years ago.

Making a claim for yourself – this type of claim is complex and unlike PPI is usually high value, and you can only make a complaint ONCE. It is advantageous to use a reputable company who will fight every claim on your behalf (and knows how to counter the product providers) to ensure you receive the maximum compensation.

PPI is being time-barred this month, Endowments were time-barred previously, so will long-term pension claims be the next product to go the same way – ACT NOW before it is too late.

Credits: The Guardian July 2019

Get Help With Your Complaint Today & Contact X-Claims


X-Claims has a proven track record in successfully winning maximum compensation for their clients and work on a no win no-fee basis with no up-front fees. You can only make a claim once, so using a professionally qualified regulated firm can be invaluable. If you are unhappy in any way and are dissatisfied with your financial product then please get in touch with us. 

You do not need to use a claims management company to make a claim

You can do this yourself for free, and if your claim is unsuccessful you can pursue it yourself with the Financial Ombudsman Service.
If your product provider or your financial advisor is no longer in business, you may be able to use the Financial Services Compensation Scheme (subject to their Rules).

X-Claims Limited is authorised and regulated by the Financial Conduct Authority – FRN: 829746

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