1) Thread on cessation of temporary abatement rules

From 25th March some who gave up their retirement to help the NHS will have their NHS pension reduced if they carry on working🤦‍♂️

FOI data I've obtained shows there are 7,470 doctors and nurses who could be adversely impacted🤯
2) Abatement is the process that restricts the pension in payment for certain members who retire & return to work before 60

Abatement was suspended to encourage experienced workers with Special Class or Mental Health Officer status to return to work to help in the pandemic
3) Those impacted will have few options and there are no good choices

This will either reduce the workforce or reduce the worker’s pension in payment which will impact morale

Why put staff, who gave up retirement to help, in this position?
4) Details of the cessation of temporary abatement were announced to members some time ago nhsbsa.nhs.uk/pensioner-hub/…

An update was issued to employers on 10th January nhsbsa.nhs.uk/coronavirus-ac…

There has been plenty of time to rectify this, but nothing has yet been done
5) It was good to see @GillFurnissMP ask to extend abatement suspension rules questions-statements.parliament.uk/written-questi…

There was, unfortunately, a disappointing response from Ed Argar who said "the Department will keep this under review"
6) The response is not good enough, time is running short, members are already making decisions based on this inaction

I've spoken to some who will be impacted and it's not surprising that they can't see themselves continuing to work after 25th March

7) There is a really easy fix to this looming problem

Coronavirus Act 2020 includes provisions to allow an extension to any powers contained within the bill - just extend the rules

The original intention was for measures to extend 6 months post-pandemic
nhsbsa.nhs.uk/sites/default/…
8) It would be better to fix this problem now, rather than scratching heads in April as to why thousands left the NHS or cut theirs hours

No point reviewing the policy after they've gone

Big risk that doing nothing could trigger thousands of nurses and doctors to leave the NHS
9) This is the least we could do to help those who gave up their retirement to help us

Extending the suspension of abatement is a very simple & quick win

@mariacaulfield @BMA_Pensions @HCSANews @theRCN @rcpsych @goldstone_tony @ChrisCEOHopson @caspertown42 @RhonddaBryant

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More from @gdcuk

13 Jan
1) Short thread on Threshold Income errors I've seen & raised at last night's webinar for @CwmTafMorgannwg

Some have incorrectly added salary sacrifice arrangements to their taxable income to assess Annual Allowance Taper causing a potential overpayment of £,000s in tax
2) Annual Allowance Taper applies only if:

Threshold Income is more than £200k (previously £110k - 2016/17 to 2019/20), AND
Adjusted Income is more than £240k (previously £150k)
3) Annual Allowance Taper can reduce your annual allowance down to £4,000 (previously £10k)

The Annual Allowance Taper rules are set out in the Pension Tax Manual PTM057100, which can be found here:

gov.uk/hmrc-internal-…
Read 7 tweets
31 Oct 21
Found a way to save doctors £11m🤯

I had a hunch retired members had not used Individual Protection 16

Big thanks to #NHSPension FOI team for listening & using my methodology and to @ChrisD4wson & team for agreeing with our proposal to fix it👏

Pls RT

thetimes.co.uk/article/doctor…
2/ Individual Protection 16 (IP16) is a form of lifetime allowance (LTA) protection that was introduced when the LTA was reduced to £1m from 06/04/2016

You are able to protect your pension savings up to £1.25m, depending on the value at the time

gov.uk/guidance/pensi…
3/ The tricky bit is finding out the value of your NHS pension as at 5th April 2016

You can pay NHSBSA £120 to work it out for you nhsbsa.nhs.uk/sites/default/…

or you can apply some maths to some annual allowance information you might already have
Read 8 tweets

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