ABSTRACT
Where remuneration from private practice represents a substantial part of a doctor's income he would be well advised to set aside part of it in provision for his retirement. Consultants' superannuable earnings relate purely to their salaried employment in the National Health Service (NHS). Earnings of doctors generated from sources other than work under NHS contracts, such as private practice, lectures, research, writing books etc, do not qualify and are therefore classed as non-superannuable. The cost of each added year is a percentage of superannuable earnings which is determined by age at entry and repayment scale selected. The optimum extra contribution is 9" of salary, provided this does not acquire more than the maximum allowable number of Added Years. The publicity for this scheme suggests that its administrative costs are minimal. Important disadvantages of personal pensions are that, unlike the NHS pension scheme, the final benefits are not necessarily index-linked.
