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Dr Tony Goldstone 💙 Profile picture
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Jan 20 • 7 tweets • 4 min read
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
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 Image
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
4/ The consultation is quite technical so some of this is necessarily technical

One of the more difficult issues to understand is "negative pension growth".

I cant emphasize enough how important it is to fix this. As things currently stand, many members will continue to pay
5/ *HUGE* & unfair AA charges despite the fact their overall pension may go down in 23/24 & 24/25. This is because government is taxing the part of your pension going up, and ingoring the bit going down. This is, basically, tantamount to theft. Read👇

6/ & watch the two videos including this one I recorded with fellow pension expert @gdcuk

7/ Once again please set aside some time to complete the consultation

bit.ly/StopPensionThe…

Better still do it RIGHT NOW (and personalise)! And then please RT / share on FB / Whatsapp etc

#FixNegativePIAs
#FixTheFinanceAct

Thank you in advance

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More from @goldstone_tony

Dr Tony Goldstone 💙 Profile picture
Dec 11, 2022
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 Image
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)

Read 25 tweets
Dr Tony Goldstone 💙 Profile picture
Dec 11, 2022
1/2 THOUGHT FOR THE DAY: If @DHSCgovuk @hmtreasury REAL intention in their consultation "intention is the PIA should only consider growth in pension savings ABOVE inflation", where are they ignoring MASSIVE inflation related negative growth?

This is tantamount to "pension THEFT"
2/2 Now a mid-career consultant could pay £48,604 more AA tax in next 10 years (£68,498 vs £19,763), purely because government CHOOSE to (entirely unfairly) ignore -ve growth contrary to advice from @Policy_Exchange @NHSEmployers @AISMANewsline

RT if u think this theft stinks
3/3 I'll be recording a short VLOG / twitter thread later this morning with pensions expert @gdcuk explaining how this works, and there the government's existing proposals fall seriously short of fixing the issues
Read 4 tweets
Dr Tony Goldstone 💙 Profile picture
Dec 5, 2022
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
2/ The consultation is expected to be published later this morning

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
Read 20 tweets
Dr Tony Goldstone 💙 Profile picture
Nov 5, 2022
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 📉 Image
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." Image
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." Image
Read 22 tweets
Dr Tony Goldstone 💙 Profile picture
Sep 17, 2022
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!
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
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.
Read 26 tweets
Dr Tony Goldstone 💙 Profile picture
Sep 3, 2022
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) ImageImage
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👨‍⚕️)
Read 40 tweets

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