Venkat Srinivasan

Doctor....Consultant Anaesthetist....

[Dr Tony Goldstone @goldstone_tony]

Imagine NHS pension modelling as fast as a McLaren F1 hits 60mph?

Drop in years of payslips + your Total Reward Statement -payslip data, full pension membership-matched & modelled in 3.2 seconds. 🏎️

Not a mock-up. Not sped up. Goldstone PenFinTech PLUS add-on

Coming soon!

[Dr Tony Goldstone @goldstone_tony]

NEW: Lots of exciting development for next tax year's modellers over last few months.

Added some new concierge/gold features to help understand extent of existing & future scheme pays loans & how it will effect pension when *they* want to retire.

Why cant the scheme do this?

[Dr Tony Goldstone @goldstone_tony]

NEW: No more guessing or estimating 25/26 pensionable pay & pension (and therefore growth) - Modeller updated for final Mar 26 payslips.
Get more accurate than ever predictions for pay & pension growth for 25/26 tax year – less than 12 days left in 25/26 to mitigate if you are flirting with £100k / £200k tax traps to consider options like SIPP etc.
To use this strategy you need to know YOUR numbers, for example 'headroom' after your carry forward & your NHS pension growth.
Download free growth modeller at https://t.co/xwAun9BU40 #KnowYOURnumbers

[Dr Tony Goldstone @goldstone_tony]

We have a handful of places left for our 3 part course on pension tax traps with @MedicsMoney @medicaccountant . We are deliberately limiting numbers on these courses to allow questions / interaction.

Starts tommorow 10th March ! Last chance - link below 👇
https://t.co/QJFiBNaA7K

[Dr Tony Goldstone @goldstone_tony]

NEW: Modeller updated for Feb 26 payslips. Get more accurate than ever predictions for pay & pension growth for 25/26 tax year – less than 40 days left in 25/26 to mitigate if you are flirting with £100k / £200k tax traps to consider options like SIPP etc. To use this strategy you need to know YOUR numbers, for example 'headroom' after your carry forward & your NHS pension growth. Download free growth modeller at https://t.co/xwAun9BU40 #KnowYOURnumbers

[Dr Tony Goldstone @goldstone_tony]

Cost claimback claims are now dealt with very quickly - a couple of weeks

Getting refunds from HMRC / NHSBSA for overpaid tax (or confirmation of scheme pays from NHSBSA) however is not so quick!

[Venkat Srinivasan @drvsrinivasan]

@goldstone_tony Goodmorning Tony. Submitted through Forvis Mazars March 25; reminders from me and FM; 11 months on; awaiting refunds on overpaid tax

[Dr Tony Goldstone @goldstone_tony]

Spent most of today polishing this updated view below—it's now live for our concierge clients 🔥 (we pull in way more detailed data for them compared to the limited inputs in the self-service modellers).

It would be *so incredibly easy* for @nhs_pensions to step up their TRS game and offer something like this 👇—giving members a crystal-clear picture of their benefits accrued to date, instead of the usual bland view that just shows payouts at those mythical retirement ages nobody actually hits (you know, everyone magically retiring on their birthday at normal pension age in 1995/08 or state pension age in 2015 🙄) - and taking like 20 pages++ of A4 to explain this ?!

This straightforward tool lets people truly grasp their accrued benefits, what they'd be worth if they retire early from at least one scheme (as pretty much 99.9%+ of folks do), how much that could translate to in net monthly income 💷, and what those McCloud remedy options might actually look like.

#pensions #McCloud #simplified

[Dr Tony Goldstone @goldstone_tony]

NEW: For many years I have argued that 'TRS' is a poor document, as its very difficult for anyone to get their heads round different schemes, with different retirement ages, now complicated by McCloud choice.

So for concierge clients we now present your TRS not only as a simple graphic (top - which TRS takes 20 pages to explain to you), but also on the bottom you can see the effect of your benefits accrued to date, but taken at different retirement ages (bottom).

As its difficult to compare benefits with (1995) and without (2008/2015) lump sum, it also shows you the benefits with an equal lump sum.

#pensions #McCloud #simplified

[Dr Tony Goldstone @goldstone_tony]

1/ IMPORTANT UPDATES: Youve got a new payslip! (if you are a hospital doctor). We want you to get the most accurate estimates for pensionable (and taxable/threshold pay) so we have updated it to accept your most recent December payslip 👇

[Dr Tony Goldstone @goldstone_tony]

17/17 If you agree change is needed, please share. Try not to stress about Annual Allowance—free help is available including our free growth tool. #NHSPension

https://t.co/Mt66LYfml8 #PensionTax
Hoping for real improvements in 2026! RT! #ItsTooComplicated

[Dr Tony Goldstone @goldstone_tony]

Evening all - so still a huge amount of traffic here, especially now brown envelopes are starting to drop and there are lots of scary numbers.

In addition to the completely free modeller we also launched a scheme pays estimator - some of the AA charges being seen this year are pretty scary 5 figure charges - but its important to properly understand the impact of scheme pays which varies depending on your age, when you want to retire from each scheme (if choosing retire and return or partial retirement) and also depending on your health i.e. longevity which determines how long you are paying back your charge. For many scheme pays may cost a lot less than they think (that's not advice to use it btw!)

The other thing to note is part of our concierge service we are seeing LOADS of people who have not backpay reallocated at all, or correctly. I walk through one example where a member didn't have their backpay of just £1k reallocated (and backpay can be a lot higher!) - even for this member having it correctly allocated will save them £3624 by just sending an email to get it correctly allocated. DO NOT IGNORE the backpay issue - see the video for more details!

Last but not least, remember that despite its many problems—including catastrophically poor administration and the Annual Allowance being poorly suited to schemes like the NHS—it’s still a good scheme. Leaving the scheme is almost never the right decision. Please don't do that without proper written advice from someone who really understand the NHS pension scheme (p.s. they will almost certainly tell you stay in if they know what they are talking about)

Finally as previously, please don’t lose sleep over the Annual Allowance. It might not be as bad as you think (so model it, and remember carry forward, for many there will be significant carry forward in 23/24 especially for hospital doctors due to #negativePIAs which many people have been lobbying for many years!). Some people will have the ability and choose to pay; others may opt for Scheme Pays, through choice or necessity - model it as above. I promise its almost certainly not as bad as you might think it is.

Enjoy the video!
https://t.co/M2R4nBeFZG

[Venkat Srinivasan @drvsrinivasan]

@goldstone_tony Thanks very much Tony. Will get a 05 extract and follow it up. Appreciate your reply

[Dr Tony Goldstone @goldstone_tony]

IMPORTANT: Many of you will soon be opening brown envelopes and seeing some pretty large numbers for 24/25, which can be scary. Others will be modelling them if you haven’t received a statement yet because the scheme failed to send it within the legal timeframe (you can model growth for free here: https://t.co/xwAun9BU40).

But it’s important to remember a few things.
You have a charge because your pension has increased significantly. I know it feels unfair—as it’s correcting years of prior erosion—but that’s one of the many problems with the Annual Allowance.

Please don’t lose sleep over the Annual Allowance. It might not be as bad as you think (so model it, and remember carry forward, for many there will be significant carry forward in 23/24 especially for hospital doctors due to #negativePIAs which many people have been lobbying for many years!). Some people will have the ability and choose to pay; others may opt for Scheme Pays, through choice or necessity.

I previewed my Scheme Pays analysis a few months ago in a YouTube, and hopefully it will be available shortly as an add-on to my free or premium modellers (sneak preview below). Scheme Pays has a lot of moving parts—because the interest depends not only on rates but also on when you plan to retire from each scheme. There isn’t a single “Scheme Pays impact”; it’s dynamic and varies based on several factors including several things that may change including when you want to retire, and also your health. None of 👇 is advice, its just to help you understand your numbers. Some people way wish to get formal financial advice i.e. from an IFA around this decision.

Also remember to consider whether you can do anything THIS tax year we are in which may also see big growth numbers for many—can you avoid tapering, or should you ignore it and carry on? Scheme Pays may not be as bad as feared (and has improved versus a few years ago for technical reasons), so you need to #KnowYourNumbers and #ModelYourPension to make an #informedchoice.

Last but not least, remember that despite its many problems—including catastrophically poor administration and the Annual Allowance being poorly suited to schemes like the NHS—it’s still a good scheme. Leaving the scheme is almost never the right decision.

Here’s a sneak peek of what’s hopefully coming soon as an #AddOn 👇, so model your numbers today and sleep better knowing your position. Remember there is no downloadable model this year - the only way you can get it is by registering at https://t.co/xwAun9BU40 !

Please share/RT with people who are struggling.

[Dr Tony Goldstone @goldstone_tony]

Grateful @TheIFS @IsaacDelestre answering my question (upvoted to most popular) on their view on ridiculous tax cliff edges such as £100k & AA taper
Answer from the IFS - "we hate them"
And a clear message to @RachelReevesMP they would like her to address them
RT if u agree!

[Dr Tony Goldstone @goldstone_tony]

NEW & IMPORTANT: Doctors, full recording from last night’s pension tax session is now uploaded and live!

I was joined by 30-year specialist medical accountant @medicaccountant & pension tax expert Andy Pow, and we went deep on the issues hitting GPs and hospital doctors hardest right now.

In this single video you get:
• Brand-new FREE Annual Allowance modeller for 23/24, 24/25 & 25/26 (yes it really is free, no catches)
• First details of our new CONCIERGE service – we do all the complex work so you don’t have to
• Premium options: AA tax calcs (with or without taper), proven mitigation strategies to reduce your AA tax bill, and how to navigate the £100k+ tax trap catching so many seniors and causing miserable (unfair) high marginal rates and loss of tax free childcare for those with small kids

If your pension saving statement has ever filled you with dread – this is for you (oh yes and for those who havent got pension savings too, despite asking and the so called "statutory deadlines" that appear to matter that much any more?)

Watch here 👇
https://t.co/H7dDIyfZGv

Want the free modeller + concierge info sent straight to you? Register (its the only way to get it #NoMoreSpreadsheets ):
https://t.co/xwAun9CrTy

Please share/RT with any colleague who’s struggling – it could make a massive difference this year 🙏

#NHSMoney #GPPensions #HospitalDoctors #AnnualAllowance #PensionTaxHell

[Dr Tony Goldstone @goldstone_tony]

NEW: Join our Youtube live Tue 18th Nov 7pm with
@medicaccountant !
Update on the new GPFT pension modeller. Completely *FREE* for pension growth in 23/24, 24/25, 25/26 (so you can do something about it) - for GPs or hospital doctors / others - and also more advanced options including 'concierge' where you upload docs and we do the hard work for you, so you dont have to!
Link to register: https://t.co/xwAun9BU40
Youtube live: https://t.co/yeCShF2z8N

[Venkat Srinivasan @drvsrinivasan]

@goldstone_tony Thanks very much Tony for your reply. Will chase on HMRC helpline.

[Venkat Srinivasan @drvsrinivasan]

@goldstone_tony Goodafternoon Tony. Forvis Mazars Team submitted my application in MidMarch 2025. I have not heard from HMRC regarding Tax Refund nor from NHSBSA about Refund to the scheme.