GPs warned to budget for new pension rates
Medical accountants are warning GPs they could face cash-flow problems next year if they over-estimate profits by failing to account for changes to pension contributions.
Employers' contributions for GPs' pensions will be included in practices' global sum and will not now be held back by primary care organisations.
The employer's contribution rises this year from 6 per cent to 14 per cent.
Paul Samrah, an accountant at Kingston Smith in Redhill, Surrey, said some GPs were unaware both employees' and employers' contributions were in their global sum.
'Those that don't realise could overestimate their cash-flow and only realise a few months down the line.'
Indicative global sum details sent last month do not contain employers' contributions but final figures in April will.