“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
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,"
( & 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
If you are a 59 or over consultant or SAS doctor, work out the financial implications for YOU by staying in work, retiring or retire & return by using this free @BMA_Pensions tool👇
1/ Pleasing to wake up this morning to news that - FINALLY - were hearing about the NHS in the leadership contest for our next PM. Similarly pleasing to see the word crisis. As for the NHS, crisis is very much where we are. Some tips @RishiSunak
2/ Lets look in a bit more detail. "From day one of being in office I'm going to put us on a crisis footing." - OK as above - this is a welcome step. Snr NHS leaders have been reluctant to use the word "crisis" when asked in recent weeks by @Jeremy_Hunt
3/ Now onto the detail. @RishiSunak "promise to accelerate NHS targets to cut waiting lists". Great, but the problem is not a lack of targets. We have targets we are not acheiving. These are predicted to get *very* much worse, perhaps reaching 14.6m👇
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)
@DrDanPoulter MP "“punitive & unfair interplay between longstanding government pension taxation policies and the NHS pension scheme” for forcing many senior doctors to consider taking these “drastic steps.”
He warned that, with inflation at more than 9% this year, the penalties faced by doctors will be much higher, so the rules needed to be looked at “urgently, or we will see a reduction in the NHS workforce at the very time we can least afford it.
Responding the minister said any changes would affect "all pension savers"
However this is not correct as S235 of Finance Act only affects DB pension savers
1/ BREAKING NEWS: Ahead of this evenings debate @RCPhysicians ask government to "The temporary measures put in place for the 2019/20 tax year to enable additional work before the pandemic were an acceptable solution [AA compensatin scheme].
2/We recommend that this temporary measure is extended over the next 2 to 3 years until more formal changes to legislation are achieved. The increase in activity needed to overcome the backlog will be impossible without such a step.
3/ MP @drlukeevans had only yesterday challened Matt Styles & other NHS leaders @NHSEngland about "mandation" of such policies in @CommonsHealth eunquiry into retention
1/23 V. important pension tax🧵 Alert ! Some of the arguments used by government not to fix pensions taxation & why they don't stack up (but may appear in Wednesday's debate). A long thread but spend the time to watch the videos. Pls read to end & share/RT👇
2/23 Argument 1 - Tax relief is one of the most expensive reliefs
Part A (well it is if you get it)
3/23 Argument 1 - Tax relief is one of the most expensive reliefs