Discover and read the best of Twitter Threads about #fixnegativepias
Most recents (11)
1/ There's no doubt whatsoever that the changes announced in #Budget2023 will significantly help #NHSpensiontaxcrisis @JosephineCumbo
Many have contacted me since last week to say they are changing plans
Would make 3 points
(i) The media focus is on LTA but changes made to AA
Many have contacted me since last week to say they are changing plans
Would make 3 points
(i) The media focus is on LTA but changes made to AA
2/ in the level has increased, and also a partial fix to #FixNegativePIAs and also minor changes to the taper. All of these will help doctors not reduce hours & avoid extras
(ii) The media focus is also on retirements only, but capacity in the NHS is also about how much work one
(ii) The media focus is also on retirements only, but capacity in the NHS is also about how much work one
3/ can do *before* retirement. Changes to AA & LTA will help reverse the trend to reduce hours where people were being stung unfairly by both taxes. This element of 🔼hours much more likely to make a big long lasting impact
1/ BREAKING - #Budget2023 🧵 is now live
Chancellor @Jeremy_Hunt is on his feet and starting to give his speech. I'll be tweeting live on anything related to NHS pensions in particular (& lots of changes expected so pay attention!)
Read to the end, & RT once you have!
Chancellor @Jeremy_Hunt is on his feet and starting to give his speech. I'll be tweeting live on anything related to NHS pensions in particular (& lots of changes expected so pay attention!)
Read to the end, & RT once you have!
2/ There has been intense media speculation over the last week so we are expecting that will be movement on #pension taxation as per the headline of the @Telegraph yesterday.... so lets see what makes it to the FINAL budget 🍿
3/ Please make sure you read to the end
As with all of these things #TheDevilisInTheDetail, this 🧵 will expand during the chancellors speech, & finally detail will be added once the budget documents are added later this PM (including any required addenda as more detailed known)
As with all of these things #TheDevilisInTheDetail, this 🧵 will expand during the chancellors speech, & finally detail will be added once the budget documents are added later this PM (including any required addenda as more detailed known)
1/ Pleased that the government finally appear to be listening mode 👇as to what will work (addressing root cause of the "doctors tax" as they call it - AA & LTA) rather than what wont work (massivley complex flexibility)
Some thoughts, please read & RT
Some thoughts, please read & RT
2/ First things first - the obvious point. Whilst both taxes (AA & LTA) important, AA is significantly more of an issue than the LTA (& also has complexity of tapering). But lets take them in turn
3/ Weve been hearing for a while that government know the LTA is a problem for higher earner in the NHS. @BorisJohnson hinted that he will "fix it" in 2019
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/ Thank you very much once again for bringing up pensions @MartynDaySNP yesterday at @CommonsHealth to @SteveBarclay
Some important answers in there (& some factually incorrect ones) so lets break them down, as its very important & shows govmnt (misguided) thinking
👀&RT
Some important answers in there (& some factually incorrect ones) so lets break them down, as its very important & shows govmnt (misguided) thinking
👀&RT
2/ The SOS claims "there's something that was started in Covid, the ability of people to, to return to the workforce whilst continuing to top up their pension" - this is not correct.
3/ That was about "abatement" which only affects a tiny proportion of the workforce (for doctors thats only mental health officers, a *tiny* proportion of all doctors).
1/ BREAKING: Originally plans for so called "partial retirement" (ability to continue employment, draw 1995 benefits & continue pensioned employment in 2015 scheme) was announced for April 2023(lft)
Now government have scored a *massive* own goal by deferring this to Oct 23(rt)
Now government have scored a *massive* own goal by deferring this to Oct 23(rt)
2/ Why is this important?
In 2022/23 we saw very high inflation (10.1% Sept CPI) coupled with disgraceful subinflation pay cuts (max 4.5%, lower with frozen CEAs). These 6% plus pay cuts led to many working out it #DoesntPayToStay hence our BMA tool👇
bma.org.uk/pay-and-contra…
In 2022/23 we saw very high inflation (10.1% Sept CPI) coupled with disgraceful subinflation pay cuts (max 4.5%, lower with frozen CEAs). These 6% plus pay cuts led to many working out it #DoesntPayToStay hence our BMA tool👇
bma.org.uk/pay-and-contra…
3/ Its looking like 2023/24 will produce similar findings- @bankofengland predicting 2023/4 inflation of 7.9% (left) with @hmtreasury wanting to CAP pay awards at 2% (right) - and lower assuming frozen CEAs, once again in 6% plus pay (and therefore pension) *pay cut* territory
1/IMPORTANT - If you are a doctor we need YOUR Help please! (Free tool)
PLEASE take a few mintues to to respond to the DHSC consultation on pensions taxation
More info here - especially on the crucial government ommision to fix inflation issues with #FixNegativePIAs
See👇 & RT
PLEASE take a few mintues to to respond to the DHSC consultation on pensions taxation
More info here - especially on the crucial government ommision to fix inflation issues with #FixNegativePIAs
See👇 & RT
2/ Its really important to take the time to respond to the consultation.
There are different templates for GPs & consultants/hospital doctors, & also those close to retirement, & those (completely ignored by government) who are <55yrs
There are different templates for GPs & consultants/hospital doctors, & also those close to retirement, & those (completely ignored by government) who are <55yrs
3/ Use the free tool here
bit.ly/StopPensionThe…
It should only take a few minutes to use.
As always *PLEASE* take a few minutes to customise your response - let them know how this car crash of pension taxation is affecting YOU / your service / practice & your patients
bit.ly/StopPensionThe…
It should only take a few minutes to use.
As always *PLEASE* take a few minutes to customise your response - let them know how this car crash of pension taxation is affecting YOU / your service / practice & your patients
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
THOUGHT FOR DAY: In 2021 LTA@£1.073m = public sector pension of £46,657 before breaching
With inflation 10.1% '22, 7.9% '23 LTA should be £1.423m buying same pension of 46.7k
Instead LTA will by 27/28 be real terms £818k = pension just £35.6k!
RT if you agree➡️NHS collapse 📉
With inflation 10.1% '22, 7.9% '23 LTA should be £1.423m buying same pension of 46.7k
Instead LTA will by 27/28 be real terms £818k = pension just £35.6k!
RT if you agree➡️NHS collapse 📉
2/ 🧵This is based on the story in the @Telegraph. Another great quote from Baroness @rosaltmann “People in the NHS and other parts of the public sector will increasingly be pushing to retire early, rather than working longer as we need them to."
3/ Baroness @rosaltmann (former @Conservatives Pension Minister) continues
"This is because tax rules that were supposed to be an advantage in the workplace have become a punishment in the workplace. These are the economics of crazy house."
"This is because tax rules that were supposed to be an advantage in the workplace have become a punishment in the workplace. These are the economics of crazy house."
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)
