Remedial Pension Saving Statement (RPSS) | NHS pension McCloud | What you need to know

[@KJ-yk4nq]

A clearer explanation here than anything else that I have seen or read on this so far. Many thanks

[@MedicsMoney]

Glad it was helpful!

[@Cimmerian101-JH]

Please can you also discuss military doctors in these videos? Mil doctors are similar to the NHS for tax pensions but not exactly the same

[@lywc82185]

Thank you so much for this video

[@MedicsMoney]

Glad it helped. Tell your colleagues about it.

[@lywc82185]

@@MedicsMoney I did! I put it on the physician mums Facebook group!

[@masnowden]

Thanks for all of this. Will we still be allowed to apply for scheme pays if never done before?

[@jonathansmith-mq1hv]

Great video- very informative thanks! I’d be interested to learn more about the compensation. Due my to poor understanding of AA charges I left the pension scheme early in 22/23. After hearing one of your excellent podcasts I learned I could pay my AA charges from my existing SIPP, so I employed the services of one of your brilliant recommended advisers. After they did a full review of my situation (which they had to do before they were able to give any advice) I did pay their fees and my AA charges from the SIPP. Will the compensation scheme allow me to top up my 22/23 year (it sounds like it only covers the years of the remedial period, not after) and also to claim the £3-4K that I had incurred in professional fees purely due to the pension issues? Is there any possibility of compensation for unnecessarily (with hindsight) raiding my SIPP, as it looks like I may get a refund for much of what I paid in AA charges from my SIPP anyway 🤦‍♂️ Thanks again for everything 👍👍👍

[@AndyPowMedicAccountant]

Compensation will only relate to decisions related to the 2015 scheme. Its untested but you may be able to make a claim if your 22-23 calculation (which is outside of the remedy period) is impacted by unused relief brought forward now from earlier years due to the remedy . If you paid the extra tax from the SIPP in relation to the period 1 April 2015 to 31 March 2022 then you will need to update the tax calculations once you get an RPSS. Compensation claims like this will need to be done on a case by case basis on top of the £1000 you can claim for getting help with resubmitting the data.

[@jmlogan01]

Wife's letter has arrived, but not my own yet. She wont be affected by tax charges as only part time but some of the new figures seem very discrepant from old figures. e.g. 2020-21 old pension input amount £15k, new pension input amount £0; 2018-19 old pension input amount £21k, new pension input amount £656. Are these discrepancies to be expected or is it going to be more tedious back an forth with PCSE trying to clarify the figures?

[@MedicsMoney]

Estimated that 50% of RPSS are wrong. If your wife a GP? PCSE particularly error prone 🤦‍♂️Use the PCSE portal to check figures like this kzbin.info/www/bejne/b4KWgGZqfsajhacsi=ZFuzLRpu-y5LUWVL

[@RussSebbyBear-z2j]

I’m a GP Partner… haven’t had brown letter yet, but practice accountants seem to think I will have a £20000 charge… can I appeal this? As I had no opportunity to come out of pension scheme transiently to avoid the charges

[@marcosscriven]

The timestamps on the sections seem to be wrong.

[@AdamLunt-d5f]

So F1 starters July 2012 not effected?

[@MedicsMoney]

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