article_snippet.sent: The country’s foremost pensions expert, Dr Ros Altmann said NHS bosses were signing off NHS bosses own pay rises and taking advantage of loopholes in the ‘exceptionally generous’ NHS pension scheme.
article_snippet.sent: ‘Taking lump sums and then re-employing lump sums when there is evidence of failure – that needs to be challenged.
article_snippet.sent: One of the most lucrative loopholes NHS bosses exploit is the health service’s ‘24-hour-retirement’ rule.
article_snippet.sent: In the past, the NHS NHS banned employees from retiring to claim benefits and then returning to the same job.
article_snippet.sent: ‘retire’ for 24 hours to claim retirement benefits before carrying on working.
article_snippet.sent: NHS board members are now exploiting this, allowing NHS board members to claim hundreds of thousands of pounds in lump sums from NHS board members huge pension pots when NHS board members turn 60.
article_snippet.sent: But because This cash only really ‘retire’ for 24 hours, This cash can carry on drawing This cash huge NHS salary afterwards.
article_snippet.sent: Peter Herring, chief executive at Shrewsbury and Telford Hospital NHS Trust, claimed a £252,000 tax-free lump sum by ‘retiring’ for 24 hours, before returning to the same position.
article_snippet.sent: Under pension rules, most NHS workers can claim the retirement benefits only if most NHS workers work for 16 hours or less per week for a month after ‘retiring’ for 24 hours.
article_snippet.sent: South Tyneside NHS Foundation Trust chief executive Lorraine Lambert withdrew from the NHS Pension Scheme in 2012/13 as South Tyneside NHS Foundation Trust chief executive Lorraine Lambert approached the tax-free pension pot limit.
article_snippet.sent: ‘During 2012/13 the chief executive withdrew from the NHS Pension Scheme and received additional remuneration to compensate for the loss of the employer