The Ilford North MP claimed the “insane” cap is preventing many experienced doctors from working late into their careers. He told the Telegraph: “I don’t pretend that removing the cap is a particularly progressive move. But it is something that sees patients faster and will inevitably save lives. I’m just tough and realistic about it.” The lifetime pension allowance, which was frozen last year at just over £1m until 2026, is the amount each person can save in a tax-free pension. A second cap applies to the amount that accumulates in a tax-free pension. Under current rules, doctors cannot opt out of paying their NHS pensions even if they have reached the cap, leading some high earners to retire early. Streeting pledged to call for “the ability of the private sector to reduce NHS waiting lists”, acknowledging that, for a Labor MP, “it is not a comfortable position”. He added that he believes the GP partners – doctors who are both primary care doctors and business owners – are adequate value for money. “Early intervention prevents conditions that can cost hundreds of pounds to treat, turning into problems that cost tens, if not hundreds, of thousands to treat,” he said. “We spend too much money on our hospitals or not enough on primary care. If we changed this balance over time, patients would have a better experience, hospitals would face less pressure. We would save money.” He also told the paper that “we may need to look at financial incentives” to encourage GPs and GPs to work in deprived areas in line with demand.
