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
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
3/ But this data also appears in the @DHSCgovuk to DDRB for example here for GPs starting at page 125 of
5/ So lets look at the response from the Minister in more detail as its confusing to separate "age" from "early" retirements
6/ If I have done my maths correctly, that would put average age of retirement for GPs at 59.2 and for hospital doctors at 60.7 - and that doesn't feel right to me (assuming I have calculated it correctly of course!)
7/ But now lets cross check against evidence submitted to DDRB. At first I thought the difference in hospital doctors could be hospital doctors vs consultants, but I suspect not as the GP figures are also WAY out
8/ There are some caveats in the table about being different previously published data but I think the data in the DDRB report fits more with my perception of what is really happening, and dont recognise the figures given by the minister to be correct IMHO
9/ It would be useful for @wesstreeting@FeryalClark to get clarity on which version is correct, as this is a really important question. In getting clarity I would ask @wesstreeting to go back to 2008, here is why
10/ We are in the midst of a @Conservatives leadership campaign. We heard last night for a third time from @trussliz that she will sort this mess out stating "weve got a lot of doctors leaving the profession early because of the perverse way the pensions work"
11/ But experience tells us that sometimes promises made in leadership campaigns dont always come true, do they @BorisJohnson ?
12/ Why is this important, well its important because whilst @RishiSunak in his leadership campaign was keen to tell us about the changes to the taper, he may have omitted what he did to the lifetime allowance in the March 2021 budget.
13/ And why is that so important - well with inflation likely to hit 11.3% this September, this is what is happening to the LTA in real terms
14/ And how is this relevant to this thread about early retirement numbers? And the answer to that is an extremely close correlation between the slashing of the value of the LTA (blue line) nd the rates of early retirement (orange line). Its a *potent* driver to early retirement
15/ So whilst ministers say VER rates are flat as they did recently to @feryalclark that was before when LTA was indexed to inflation (i.e. flat) this years MASSIVE cut to the LTA - what will happen to the orange line? (assuming of course the data you get is correct as above).
16/ A further note of caution if retirements are average for GPs at 59.2 and for hospital doctors at 60.7 (which I highly doubt).... stay a day beyond 60 & this is what you do to you hard earned and paid for 1995 pension. You just burn it. We need #LateRetirementFactors
1/ NEW & IMPORTANT: Quarterly NHS pay data updated 27/6/24 👇 In BREAKING NEWS NEW charts now show ALL SECTORS have reached #FullPayRestoration (though NOT, of course, the NHS)
2/ You'll notice when ministers are in the media, they often talk about how hard "your viewers/listeners" have been hit by inflation. But what we need to do is separate fact from fiction (aka LIES), it was 👇excellent @jburnmurdoch @FT chart that really showed this well last year
@jburnmurdoch @FT 3/ But its not just government ministers gaslighting NHS workers that they have no right for their pay to keep up (like everyone else's), it was also so-called "independent" DDRB👇
Apparently doctors & dentists should not be protected when "its not taking place in other groups"
2/ You'll notice when ministers are in the media, they often talk about how hard "your viewers/listeners" have been hit by inflation. But what we need to do is separate fact from fiction (aka LIES), it was 👇excellent @jburnmurdoch @FT chart that really showed this well last year
@jburnmurdoch @FT 3/ But its not just government ministers gaslighting NHS workers that they have no right for their pay to keep up (like everyone else's), it was also so-called "independent" DDRB👇
Apparently doctors & dentists should not be protected when "its not taking place in other groups"
1/ *VERY* concerned about the quality & type of information coming to @BMA_Pensions members to allow them to make choices in regards to McCloud.
For members who chose to move to 2008 (so called "choice 2", we saw the first of this information last week - deep dive 🧵
Pls RT
2/ OK first of all, lets rewind. Pre 2008 we were all in the 1995 section. For most members that had a fixed retirement age of 60, and gave us "80ths" of final salary. Work 40 years, get 40/80ths or 1/2 of your final salary. Simple. Back in the day contributions were 5% or 6%
3/ As we all started to live longer, government felt this was unnafordable as we were spending longer in retirement. So they introduced the 2008 scheme
- 1/60th not 1/80ths
- Retire at 65 not 60
- So called "Reckonable" pay - based on best of 3yr in last 10, inflation adjusted
1/ NEW: Consultation response out & confirmaiton of rates 1st April '24 , dropping the 13.5% tier.
Grateful government listened to concerns about feezing the top tier so tiers WILL uplift with CPI, not creating (another) "fiscal drag" for higher earners
2/ This repesents a change from previously announced where tiers were to be uplifts of AFC awards (largest employee group). I had suggested a "double lock" of greater of CPI or announced awards, which was supported by the scheme board, but sadly rejected by government
3/ @BMA_Pensions again raised concerns that the @nhs_pensions has a higher contribution rate than many public sector schemes, and has the steepest structure.
We continue believe it should be much flatter, or flat, in a CARE scheme will all paying the same for the same £1 pension
1/ NEW & BREAKING: @instituteforgov supported in analysis by @CIPFA issue an UPDATED pay erosion chart for NHS workers including @TheBMA doctors & @theRCN nurses👇
WHY is this so relevant: This now includes pay data released in '24 to Sept '23 INCLUDING 6/12 of 23/24 pay awads
- pay erosion in NHS from austerity
- uses CPI preferred by gvmnt & some economists
- crucially shows 6/12 effect of DDRB 23/24- starting basis for all pay deals (i.e. not a lot)
@RobLaurensonD4P @_VivekTrivedi @TheBMA @BMA_Consultants @BMA_JuniorDocs @Doctors_Vote 3/ So this chart uses the latest available data (released in 2024) includes the latest pay deals
Despite this @BMA_JuniorDocs down a STAGGERING 25.0% in real terms
REMEMBER: This is using CPI, not RPI, which would produce a higher figure (RPI includes mortgage interest etc)
1/ *Deeply* worrying from @RishiSunak @10DowningStreet on @bbclaurak
Watch the clip in full 👇and pick out the blatant untruths - its so unbelievable they went unchallenged Laura K?
Apparently "The government has now reached resolution with every other part of the NHS. ....
2/ "Nurses, midwives, paramedics, consultant doctors, specialty doctors most recently. "
"So EVERY other part of the NHS workforce, and I'm grateful to them for everything they're doing, has reached a resolution with the government on a reasonable, fair pay settlement. "
3/ According to our PM
"The only people that haven't are the junior doctors."
How can this go unchallanged?
To be clear @BMA_Consultants (nor @BMA_SAS) have *NOT* "reached a resolution with government on a "reasonable, fair pay settlement"