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NHS Pensions

Are you sleepwalking into oblivion?

NHS Pension Management Service

Our NHS Pension Management is a highly specialist service, exclusive to BW Medical Accountants for Consultants, Hospital Doctors, NHS Foundation Trusts, GPs, Locums, Dentists & senior Healthcare Staff.

How does the NHS Pension work?

The complexities of the NHS Pension scheme are fiendishly difficult to fathom, even for industry experts. Put simply, it is a pension scheme for all staff working in the NHS, from doctors and nurses to office staff. But the framework is ever changing and can be complex for healthcare professionals to understand. Our NHS pension experts and mathematicians have had to develop a complex forecasting model to help ensure we can stay ahead of any issues that may arise as a result of the continually changing landscape around the NHS Pension Scheme. Keeping you one step ahead of the scheme means that you can make choices informed by facts and figures.

There are different types of NHS scheme – which one you’re in will depend on when you joined the scheme. It can get confusing, even for NHS staff, which is why our specialist NHS pension advice is so invaluable.

What can BW Medical do to help?

BW Medical Accountants initially flagged the catalogue of errors being made by the NHS Pension Agency (NHSPA) when issuing statements, several years ago. Information provided by NHSPA is unreliable and continues, at times, to be highly inaccurate. As our NHS pension advisors have the expertise readily available in-house, despite the laborious administration required, we took a proactive stance on NHS pension advice to ensure BW Medical clients have the required support and guidance regarding their position and available options. As your personal financial position can often have a major impact on your career decisions and life choices the two tend to go hand-in-hand. Our NHS Pension experts can support clients from qualification through to retirement.

Our NHS pension process

We have a very specific and meticulous process for our NHS Pension Management Service, to ensure total accuracy. Our medical accountants and regulated financial advisers work together to deliver this specialist NHS pension advice. They complete a review of your career history, reconcile your pension figures and complete the complex calculations to establish your pension tax position and produce your comprehensive pension report. This includes an element of forecasting so you can plan ahead!  Should you be likely to breach tax limits then you can access regulated financial advice via Sanlam, if required.

Our NHS pension experts

Kevin Walker is a founding Director of BW Medical Accountants and was formally a Director of Independent Financial Advisory firm Blackett Walker Ltd for 25+ years until it was acquired by Global Wealth Management Firm Sanlam earlier in 2019. Kevin is a qualified Financial Adviser and is now a Director at Sanlam. Kevin continues to deliver personal financial advice and specialist NHS pension advice on a consulting basis to Hospital trusts via Sanlam and BW Medical Clients can be referred to his team as required. In Kevin’s words:

‘At BW Medical, it is all about the personal touch. We invest in delivering an exceptional service for our medical clients and we don't compromise on quality. Our experts have a proven track record.’

Kevin is helped by our team of NHS pension experts, including Tina Milligan ACCA. Tina is our NHS Pensions Manager and she offers specialist NHS pension advice to our clients. She produces the complex forecasts as well as the NHS pension reports. Her experience in both accounting and the healthcare sector makes her NHS pension advice absolutely priceless to medical professionals.

Why choose BW Medical for NHS pension advice?

When it comes to your NHS pension, there are no easy answers but we do know accurate financial forecasting is key to informed decision making! Our dedicated NHS Pension Management Service in relation to the NHS Pension Scheme rules on Annual Allowances and Lifetime Allowances are subject to separate individual terms of engagement. This service is open to any qualifying healthcare professional and the level of expertise and service you require will be dependent on your specific circumstances. Having an independent financial advisor for NHS pensions will allow you to make informed decisions on your income and your future. Don’t sleepwalk into oblivion!

Benchmark our service against what your current financial adviser is offering and discover a superior service which could save you significant tax liabilities.

Please note; due to the specialist technical nature of our NHS Pension Management Service, our expertise is in high demand. The sooner you talk to us the better so we can support your needs and assist you in making informed financial decisions. Give us a call today to discuss your options in the NHS Pension Scheme and to speak to an expert. Be informed, contact our team for further details on 0191 653 1022.

  • BW Medical Accountants have a good working knowledge of General Practice and are keenly aware of the challenges Practices face within the changing environment of the NHS.  We have been very impressed by the way BW Medical continue to deliver the range of services they provide from Accounts to Tax and NHS Pension advice. 

    We have found Practice consultation and engagement from BW Medical specifically helpful to shape the future of the Practice.

    GP Partner
    GP Practice, Newcastle
  • We had no hesitation in moving to BW Medical Accountants.  For any business your accountant is integral, and for us one of the most important factors to this relationship is to have a personal and trusting approach, which BW have undoubtedly achieved. 

    The service we receive and the interest they show in our practice assures us that they have a genuine interest in us and commitment to us.  More importantly they are always helpful and polite to answer even the dumbest of questions!  They give us confidence and reassurance knowing that they are always very up-to-date with all the numerous changes within general practice and we would have no hesitation in recommending them to other practices seeking a professional and personal accountancy service.

    Jackie Rotherham, Practice Manager
    The James Street Family Practice, Lincolnshire
  • We changed to BW Medical Accountants and I would say we have just had the most transparent and understandable end of year meeting and the best planning advice I have ever had in 16 years of practice.

    GP Partner

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