Discover and read the best of Twitter Threads about #CPIdisconnect
Most recents (12)
1/ BREAKING: Government publish response to partial retirement & CPI disconnect consultation
gov.uk/government/con…
gov.uk/government/con…
2/ Its *EXTREMELY* dissapointing they have ignored feedback on #FixNegativePIAs
It's completely untrue to say the member "has not had a reduction in pension benefits"
If pensionable pay falls *relative* to inflation, that exactly what you have had #pensiontheft
& they know it
It's completely untrue to say the member "has not had a reduction in pension benefits"
If pensionable pay falls *relative* to inflation, that exactly what you have had #pensiontheft
& they know it
3/ Its incredibly misleading to suggest if pay rises, so does pension "as long as there had been increase in pensionable pay".
Everybody knows (incl. government officials I've met) that the intention of the Finance Act is to measure growth *above inflation*, so 👇REMAINS untrue
Everybody knows (incl. government officials I've met) that the intention of the Finance Act is to measure growth *above inflation*, so 👇REMAINS untrue
1/ This is a *really* important thread🧵 re current pensions consultation. I need you to take time to read it properly & watch the 2 videos / modelling done with @gdcuk
They are trying to steal your pension, whilst pretending they are fixing a problem. Read, 👀 2 videos & RT
They are trying to steal your pension, whilst pretending they are fixing a problem. Read, 👀 2 videos & RT
2/ Ive been tweeting for some some time now about the *huge* problems created for NHS pension by high inflation & the interaction with something called #CPIdisconnect & #FixNegativePIAs
3/ Ive always been clear that we need to #FixTheFinanceAct specifically in relation to CPI disconnect (Section 235)
1/ BREAKING: As reported overnight in @thetimes there is a new consultation out later today
google.com/url?rct=j&sa=t…
A short 🧵 in some of the detail
TLDR: Some helpful bits, but too litttle, too late with NOTHING for AA/LTA
google.com/url?rct=j&sa=t…
A short 🧵 in some of the detail
TLDR: Some helpful bits, but too litttle, too late with NOTHING for AA/LTA
2/ The consultation is expected to be published later this morning
Heres a snapshot of what it covers (and what it doesnt)
Heres a snapshot of what it covers (and what it doesnt)
3/ The main areas cover 3 main areas
- Some pension flexibilities around retirement only
- Some changes (not enough) to deal with inflation
- minor access changes to PCNs
- Some pension flexibilities around retirement only
- Some changes (not enough) to deal with inflation
- minor access changes to PCNs
1/ Interesting Comments from NHS CEOs:
One CEO described current rates being paid as "mixed". Massive understatement - we found huge variation of rates being paid including different rates for the same type of work in the same trust and even the same operating theatre #notfair
One CEO described current rates being paid as "mixed". Massive understatement - we found huge variation of rates being paid including different rates for the same type of work in the same trust and even the same operating theatre #notfair
2/ Another CEO said "the optics are poor - people asking for many multiples of their hourly rate when others are doing for time and a half or double time".
Doctors already work incredibly long hours including regular overtime (at standard contract rates) and unpaid overtime....
Doctors already work incredibly long hours including regular overtime (at standard contract rates) and unpaid overtime....
3/ Consultants will continue to do this but it is perfectly reasonable to be paid higher rates when being asked to give up what little is left of your free time to do EXTRA WORK. And whilst the rates received by the doctor are higher the total employer cost is not that different
1/ A thread about annual allowance in 21/22👇 [+ new free tool]
Many will have received a nasty brown envelope from @nhs_pensions this week. If you have (and even if you haven't) you may need to take action. Pay attention and share (please RT) with colleagues who may need this!
Many will have received a nasty brown envelope from @nhs_pensions this week. If you have (and even if you haven't) you may need to take action. Pay attention and share (please RT) with colleagues who may need this!
2/ OK if you already have statements for 21/22 (& if you are member of two schemes i.e. 1995 & 2015 you need TWO statements) you can miss this step.
But if you are a high earner (say >£90k) & you haven't, request one today (it can take 3 months)
bit.ly/TGPSSRequest22
But if you are a high earner (say >£90k) & you haven't, request one today (it can take 3 months)
bit.ly/TGPSSRequest22
3/ Next you need to establish if you have an AA liability in 21/22. To do that you can use the free HMRC calculator. Its not that straightforward, but I would *strongly* advise to do your own calculations, even if you have an accountant/advisor.
1/ Some useful 🧵s /tools on NHS pension scheme, pension taxation, & why its *still* a car crash for NHS (retention). #TaperTweakDidntWork
For me this has always been about two simple themes- patient safety & survival of the NHS
HOW IT STARTED ('19) HOW ITS GOING ('22)
For me this has always been about two simple themes- patient safety & survival of the NHS
HOW IT STARTED ('19) HOW ITS GOING ('22)
2/ I've redone this 🧵 as a compendium of some of the more important /educative/impactful tweets/threads🧵& tools I've done over the last 18 months or so they are all in 1 place. For some, they are done annually each tax year. Here goes- enjoy I hope you find it useful
3/ Useful tools pension/tax 🧵👇
1️⃣ bit.ly/McCloudCalc
🆓McCloud🛠️(most NHS staff)
2️⃣ bma.org.uk/doesntpaytostay
🆓Peri-retirement🛠️(hos👨⚕️) #DoesntPayToStay
3️⃣ bma.org.uk/pay-and-contra…
🆓AA🛠️(GP) 22/23 #CPIdisconnect
4️⃣ modelyourpension.com
Full pension/AA/LTA🛠️(hos👨⚕️)
1️⃣ bit.ly/McCloudCalc
🆓McCloud🛠️(most NHS staff)
2️⃣ bma.org.uk/doesntpaytostay
🆓Peri-retirement🛠️(hos👨⚕️) #DoesntPayToStay
3️⃣ bma.org.uk/pay-and-contra…
🆓AA🛠️(GP) 22/23 #CPIdisconnect
4️⃣ modelyourpension.com
Full pension/AA/LTA🛠️(hos👨⚕️)
1/ As one of the leading experts on pension taxation in NHS I've personally reached out to @trussliz @RishiSunak with my thoughts on this existential threat to the NHS & solutions
If you want #TalkToTony I'd be happy to explain this complex issue.
Read 👇& RT if you agree
If you want #TalkToTony I'd be happy to explain this complex issue.
Read 👇& RT if you agree
2/ I start by explaining in detail how about tax relief in the NHS is *not* the same as the private sector, nor is it the same as other public sector schemes
3/ Much of the general problem has been explained many times, including in the recent excellent @CommonsHealth report that correctly concluded that "It is a NATIONAL SCANDAL that senior doctors are being forced to reduce their working contribution"
1/ NEW🕵️🧵: Good question from @wesstreeting but Im not so sure I understand the response from @mariacaulfield & perhaps more worryingly the response appears to me to be somewhat discrepant from previously published data by @DHSCgovuk
Pls share widely/RT
Pls share widely/RT
2/ This table is included in the response splits it into "age" and "early" retirement which the Minister describes as:
"Age retirements" are taken at or beyond 60 years old
"Voluntary early retirements" are taken before the age of 60 years old
"Age retirements" are taken at or beyond 60 years old
"Voluntary early retirements" are taken before the age of 60 years old
3/ But this data also appears in the @DHSCgovuk to DDRB for example here for GPs starting at page 125 of
assets.publishing.service.gov.uk/government/upl…
assets.publishing.service.gov.uk/government/upl…
“Despite what the Government says, this is not a pay rise, but a more than 6pc real-terms pay cut, & this will have a significant impact on final salary pensions” said @Vish_Sharm @BMA_Pensions
telegraph.co.uk/pensions-retir…
telegraph.co.uk/pensions-retir…
A consultant could be worse off by £124,000 over the course of their retirement by delaying retirement for a single year"
"Clearly it's not fair or reasonable to expect workers to continue working, having given a lifetime of service, to receive a considerably lower pension,"
"Clearly it's not fair or reasonable to expect workers to continue working, having given a lifetime of service, to receive a considerably lower pension,"
( & that doesnt include the £11-19k AA tax charge the consultant would need to pay due to #CPIdisconnect & #NegPIAs)
There would be an exodus of the country’s most skilled doctors. “It will be an absolute car crash if the Government continues to ignore this problem said @gdcuk
There would be an exodus of the country’s most skilled doctors. “It will be an absolute car crash if the Government continues to ignore this problem said @gdcuk
1/26 V Important 🧵 on this weeks debate in the House of Commons tabled by @DrDanPoulter
Highlights & my analysis. Pls read to end & share/RT👇. Vital we resolve this to fix *retention* & backlog
Part 1/2 - Dr Poulter (Pt 2/2 Minister response soon)
Highlights & my analysis. Pls read to end & share/RT👇. Vital we resolve this to fix *retention* & backlog
Part 1/2 - Dr Poulter (Pt 2/2 Minister response soon)
2/26 Really important points from @Dr_PhilippaW
1️⃣ vital issue needing 4 nation solutions @BMACymru @BMAScotland @BMA_NI
2️⃣AA is the wrong tax for the wrong group of people & its destroying the NHS
1️⃣ vital issue needing 4 nation solutions @BMACymru @BMAScotland @BMA_NI
2️⃣AA is the wrong tax for the wrong group of people & its destroying the NHS
3/26 A further intervention from Northern Ireland's @JimShannonMP again pointing out the 4 nation problem and large rise in retirements in the NHS since April (my prediction - unless this fixed very urgently, retirements will increase +++ in 22/23)
1/18 Really important report by @dnepo @aneelbhangu out this morning as reported by @ShaunLintern in yesterdays @thesundaytimes
Grateful to have received an early copy for comment &here are some thoughts in a short 🧵
Grateful to have received an early copy for comment &here are some thoughts in a short 🧵
2/18 Firstly this is NOT and never was a "COVID" backlog. As I have repeatedly pointed out the backlog has building over a decade, only worsened by but not caused by COVID.
A key part of that has been - as acknowledged by the authors - the interaction with pension taxation
A key part of that has been - as acknowledged by the authors - the interaction with pension taxation
3/18 BUT the problem is not limited to consultants "not taking additional work" - far from it. That particular problem, largely driven by the tapered AA was/is real, but a much bigger threat is reduction in activity (from reduced sessions) and loss of activity by early retirement
1/ Grateful for @imogent_ @thetimes covering the @BMA_Pensions GP CPI calculator in ST
See the problem for yourself by accessing free BMA tool at 👇
bit.ly/CPIPensionDisa…
A financial advisor said "Doctors worry
about the tax bills in their pension. It has been part
of every
See the problem for yourself by accessing free BMA tool at 👇
bit.ly/CPIPensionDisa…
A financial advisor said "Doctors worry
about the tax bills in their pension. It has been part
of every
2/ conversation I’ve had with a doctor for
three to four years but now it is really front and
centre. This problem for the doctors is having an
immediate knock-on effect on waiting lists."
three to four years but now it is really front and
centre. This problem for the doctors is having an
immediate knock-on effect on waiting lists."
3/ The key problem is due to the rate of increase of inflation which is unprecendented
