A three-minute retirement runway guide for principals

Gareth Stainsby shares a bitesize rundown on key points to consider ahead of retirement when you’re a principal dentist.

The earlier you start financial planning the better.

There are great tax benefits when saving in a pension, whether that is through personal contributions or through your dental practice limited company.

However, with the demands of managing a busy working and personal life, this is something that can understandably fall by the wayside.

For principal dentists, the timeline for retirement can be slightly different to your colleagues when it comes to retirement planning. This makes early planning even more crucial.

The time required to exit the profession may come as a surprise. The sale of a dental practice can often take years to complete.

Following this, the new principal often contracts previous owners of the practice. They then stay on at the practice for a period of time after the sale.

Your strategy here will significantly impact your timeline for exiting the profession and enjoying a well-earned retirement.

Speak to a specialist

Discussing your goals with a financial adviser who has experience in the dental industry will help smooth your exit strategy. They can help ensure you get the most reliable and considered advice based on experience in your specific career path.

It also helps to speak to a specialist when it comes to the NHS pension scheme.

It’s a respectable pension with some great benefits for its members. But knowing exactly how it serves you in retirement is crucial in understanding how much further planning is needed to help you achieve your retirement goal.


If you’d like to get your retirement plan on track for the year ahead and receive further advice in this area, you can speak to a specialist dental financial adviser as part of a no-obligation financial review. Visit wesleyan.co.uk/dental or call 0800 316 3784.

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