How your work can shape the pension questions
Healthcare professionals may move between PAYE employment, locum work, partnership, sole trade and an incorporated practice. Pension options and tax treatment depend on the legal and income structure in each period, not simply the professional title.
Pension benefits and arrangements to identify
Identify workplace pensions, PRSAs, RACs, company-funded arrangements and preserved benefits. Confirm which income is pensionable or relevant earnings, and keep personal contributions separate from employer contributions made by a company.
| Decision area | What to establish |
|---|---|
| Work structure | Is the income PAYE, self-employed profit, partnership income or company remuneration? |
| Contribution pattern | Would regular, variable or year-end funding fit cash flow? |
| Existing pensions | Are old employer schemes and personal contracts still suitable? |
| Protection | Do illness, income interruption and dependant needs affect the retirement plan? |
Documents to gather before a review
A useful review starts with evidence, not assumptions.
- Employment contracts or practice/company structure details.
- Recent payslips, accounts and remuneration information.
- Statements and charge details for every pension.
- Retirement goals, practice succession plans and household commitments.
How an advisor can help
An advisor can map each income source to the available pension routes, compare personal and employer funding, review existing contracts and coordinate retirement saving with business cash flow. An accountant should confirm the tax and company treatment.
What the review should produce
Ask for a clear record of the pensions included, benefits that could be lost, all product and advice charges, the assumptions used, the recommended contribution or retirement strategy and the next review date. A personal recommendation should follow a full fact-find and suitability assessment.
Last reviewed: 21 September 2026. Rules depend on your circumstances.
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