** Options to help you retire early outside the NHS **

To address the income shortfall before receiving the state pension, consider diversifying pension options to secure financial stability. Utilizing a Self-Invested Pension (SIP) or personal pension plan allows for single premiums or regular savings, ideal for NHS professionals with allowance headroom, particularly consultants and GP partners. Although there's currently no lifetime allowance cap on contributions, future government changes may modify this status. Private pensions offer tax relief on contributions but incur taxes upon withdrawal, making them beneficial for marginal tax planning. Additionally, Individual Savings Accounts (ISAs) provide a tax-free investment avenue, allowing contributions in cash and shares, though they do not offer tax relief initially. Withdrawals are tax-free, enabling strategic access to funds as needed. Furthermore, Lifetime ISAs (LISAs) offer government contributions but restrict withdrawals to retirement or first-time home purchases. Exploring a mix of these options, along with unit trusts and other investments, can effectively enhance retirement readiness outside the NHS framework.