Page 4 - P4304.1-V106 PSUK Feb Mag

Navigate wage and

National Insurance

increases by maximising

your PSUK membership

The anticipated rise in National Insurance and the National Living
Wage this year is poised to have significant implications for
dispensing practices and the healthcare sector. These changes,
designed to enhance social security and ensure fair compensation
for workers, will likely exert financial pressure on our industry, which
traditionally operates on tight profit margins.

Dispensing practices and the wider healthcare sector may find
themselves grappling with increased payroll costs, adding to the
already crippling impact of other inflationary pressures in recent
years. The hike in National Insurance contributions will mean higher
payments for both employers and employees, which could strain
your bottom line. As personnel expenses rise, you might need to
reassess your workflows, find ways to become more efficient, and
potentially delay hiring plans to manage increased spending.

The increase in the National Living Wage is intended to provide a
better standard of living for lower-income workers, including those
in the healthcare sector. While this is a positive step for employees
receiving a higher wage, for dispensing doctors, it could translate
into higher salary outlays. This could compel you to make difficult
operational decisions. Unfortunately, you cannot simply pass these
costs on to your “customers” unlike in retail and it is important that
you therefore make some small changes and take advantage of the
opportunities out there to absorb this.

As your trusted membership organisation, here at PSUK, we want to
encourage you to maximise your membership and all the benefits it
has to offer that are designed to support your business operations
and enhance your efficiencies and profitability.

4 PS Magazine | PSUK Membership

24/01/2025 13:50:57
P4304.1-V106 PSUK Feb Mag (Print Ready).indd 4
P4304.1-V106 PSUK Feb Mag (Print Ready).indd 4 24/01/2025 13:50:57