Can riskier 'alternative' pensions solve the NHS crisis?

A hospital 
You can save up to £40,000 into a pension each year, compared with £200,000 in a venture capital trust. Doctors are among those caught by the rules Credit: Peter Byrne/PA

Savers are being urged to be cautious of risky “alternative pensions” touted as a solution to the NHS crisis, which has seen senior doctors turn down extra shifts and waiting times soar. 

Consultants have had to pay thousands of pounds to meet unexpected tax bills caused by innocent breaches of the annual or lifetime pension allowances, which can be triggered simply by working overtime. One in 10 doctors has threatened to quit if the flaws in the system are not resolved. 

MPs are now searching for a solution. One way to get around restrictions on pension saving would be investing via venture capital trusts (VCTs), often marketed as the next best vehicle for retirement savings after pensions....

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