Hospital Dr News

Surge in consultants opting for early retirement

Consultants are opting to retire early rather than face pension compromise, figures reveal.

The number of consultants taking voluntary early retirement jumped from 98 doctors in 2010 to 169 in 2011.

The HCSA believes this rate reflects growing feeling of being undervalued.

Stephen Campion, chief executive of the HCSA, said: “Far from being anecdotal, I am aware of a number of consultants who have decided to retire prematurely and cite the pension uncertainty with good reason.

“The threat to pension benefits together with a feeling of being undervalued have without doubt influenced consultants to leave the NHS earlier than they had planned.”

The figures, from the NHS Business Services Authority Pensions Division, and revealed by BMJ Careers, show that over the past five years the proportion of consultants taking early retirement has almost doubled from 7.3% in 2006 to 14.0% in 2011.

In addition to the threats to the NHS pension, a BMA spokesman suggested that longer, more intense hours of work – partly due to the drop in junior doctors’ availability following new working time restrictions – were also having an affect.

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2 Responses to “Surge in consultants opting for early retirement”

  1. tom goodfellow says:

    Any consultant over 60 would be mad not to consider retiring, or taking temporary retirement which is what I have done. Then come back part time for as may hours as you chose / your department will agree.

    You get the lump sum, and the pension payments. Any additional hours you agree to do will bridge the gap between the pension and your previous salary. And remember you do not have to pay any further pension conrtibutions on your new salary, so this also boosts your monthly take-home pay.

    If you choses to stay in the NHS pension scheme and work until 65 (or longer) it does not actually increase your annual pension by very much. And you are closer to death, so you get the benefits for a much shorter period.

    Do the sums!

  2. Malcolm Morrison says:

    Is this part of a Govt’ ‘policy’? Get the older people to retire early – so that the NEETs can be given a job. I am sure there would be plenty of ‘apprentices’ wanting to get ‘work experience’ as a consultant!

    I am sure there must be a latin name for the disease of modern ‘government’ – the left hand does not know what the right hand is doing; maybe it is “dyskinesis manus dexter et sinister”!

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