April saw a record number of pension benefits being awarded to NHS members, indicating a significant jump in those retiring.

At least 34% of people who exceeded the £40,000 annual pension allowance in 2019/20 were members of the NHS Pension Scheme, according to data sourced from HMRC sourced by Quilter.

More than 7,000 NHS staff may retire next month to avoid a pension penalty, according to wealth manager and Financial Planner Quilter.

The number of NHS staff opting out of its pension scheme rose by 22% last year, according to a Freedom of Information request by Quilter.