Important NHS Pension Deadlines Looming for GPs
Annual Certificate Deadline Approaching
The deadline for submitting the Annual Certificate of Pensionable Profits (Type 1 Certificate) for the 2022/23 pension year has been extended to 31 March 2024. All GP and non-GP provider partners must complete and file this certificate each year.
GPs are advised to provide their employee contribution statements to the person preparing their certificate, which can be obtained from the online PCSE Portal. These statements detail all contributions which have been paid for the relevant financial year. This ensures that payments have been correctly captured and reduces the likelihood of PCSE rejecting the certificate.
In addition, all previous years’ Type 1 Certificates must have been submitted and processed correctly, or else PCSE will not send the 2022/23 pensions information to NHS Pensions.
Self-Assessment Form Due Soon for Salaried GPs
Salaried GPs also have an extended deadline of 31 March 2024 to submit their annual Medical Practitioners Self-Assessment Form (Type 2 Form).
The form needs pensionable pay from payslips for the year, the pension contributions paid as per the employee contribution statement on PCSE online, plus any other GP income like locum work outside the main role. As with the Type 1, all previous years’ Type 2 forms must be filed for the information to flow over to NHS Pensions.
Estimate of Profits/Pay Form Critical for Practices
Practices must send their Estimate of Pensionable Profits/Pay (EOPP) for 2024/25 by March 31, 2024. This estimate before the new April pension year is crucial.
GPs should give practice managers their expected external pensionable earnings for the coming year to maximise accuracy. Missed deadlines could mean maximum pension contribution rates for GPs, regardless of actual income.
Practice managers or lead partners are tasked with submitting the form on time.
Use Online Portal to Check Certificate Status
GPs and practice managers are advised to use the PCSE Portal to verify no annual certificates are outstanding. Certificates must be submitted sequentially, so any gaps will cause delays.
Obtaining assistance from an accountant or pension adviser can help ensure all forms are completed and filed correctly before deadlines.
For more information, please contact Matthew Watson at matthew.watson@ballardsllp.com
Disclaimer. This article has been prepared for information purposes only. Formal professional advice is strongly recommended before making decisions on the topics discussed in this release. No responsibility for any loss to any person acting, or not acting, as a result of this release can be accepted by us, or any person affiliated with us.
