24-Hour Retirement
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PFM Dental
Legal
Increasingly, dentists are adopting a phased approach to retirement. This could mean selling the dental practice in advance of the usual NHS retirement age and continuing as an associate. The ability to continue clinical work without the stress of ownership appeals to many for obvious reasons. Others decide to draw their NHS pension and continue to work.
Provided certain conditions are followed, a dentist can undertake what is known as “a 24-hour retirement”. As such, if there is a 24-hour break in work for the NHS, the dentist can return to NHS work. Our skilled legal team only work with dentists, ensuring they can protect your interests. We can usually provide a fixed fee quotation for our services.
Our Legal Team can work alongside our Financial Advisers
NHS Pensions
Options for how and when to take your NHS pension.
Lifetime Allowance
Ensuring saving for your future doesn’t cost you too much in tax.
Consolidation
Advice on consolidating your pensions and investments.
FAQs
Do I have to sell my practice to take 24-hour retirement?
This is not necessary. We can discuss your situation with you and ensure we plan the 24-hour retirement carefully with you, to avoid common NHS contract pitfalls.
What if the NHS contract is in my name?
If you hold an NHS Dental Contract as a sole trader, NHS England/Wales view the retirement as a contract termination, so the 24-hour retirement must be approached with care in these circumstances.
We can advise you through the process and what needs to happen and when to protect the NHS Contract and ensure a smooth 24-hour retirement with both the Commissioners and NHS Pensions.
Does 24-hour retirement affect my CQC registration?
Yes, we can advise regarding any implications for the CQC registration within the practice.
Am I restricted in the number of hours I can work after 24-hour retirement?
Restrictions on the number of hours able to be worked in the first calendar month after this retirement apply. We will advise you about these.
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