Top Tweets for #negativePIAs
9/9 (2) most hospital docs wont get AA in 23/24 thanks to #negativePIAs so you can offset negative growth in 1995 scheme with positive growth in 2015
This follow extensive lobbying on this over many years (I've been lobbying on this for 8 years!) and also @BMA_Pensions @AISMANewsline @medicaccountant and others so you might have a year off AA for 23/24 David!
@Vish_Sharm @BMA_Consultants 7/ As the opening value is 10.1% (Sept 22 CPI) and pay growth for 23/24 (excl the new award) is 6% from DDRB, this means for 1995 pensions will be down 4.1%.
As we secured important changes to #negativePIAs from 23/24 this can be offset against 2015 pension growth
This ๐ฏ%
Politicians be warned. Fixing the complete car crash performance in the NHS is *not* simply about retaining those peri-retirement.
Those with 20 years+ to give to the NHS being forced into โฌ๏ธhours has a *massive* impact on lost capacity #AnnualAllowance #NegativePIAs
@DrSteveTaylor @DAUK_GP @BMA_GP @Parody_RCGP @rcgp Pension tax also impacts beyond staying vs leaving. Huge numbers reducing or have reduced sessions. Iโm 41, 8 sessions and facing 5 figure charges - financially best option is probably 6 sessions. But I donโt want to do 6! Would impact continuity and training role. Bad for NHS.
If you missed last weekends thread๐-strongly advise taking time to read it & watch the 2 videos / modelling done with pensions expert @gdcuk
It shows the huge deficiencies in the consultation, esp for mid career members = #pensiontheft #negativePIAs
Read, ๐ 2 videos & RT
1/ This is a *really* important thread๐งต 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, ๐ 2 videos & RT
A case of too little, too late ๐
Some useful changes if v. close to retirement, but even they will still be hit by punishing AA/LTA.... as for mid career doctors being punished - ZERO. Missed opportunity #NegativePIAs
Read my analysis here in this ๐งต
https://t.co/XTh0tQOuZy
I've set out reforms to NHS pensions so senior clinicians don't feel like they need to take early retirement or reduce hours.
This will help keep senior staff in the NHS for longer, opening up extra patient appointments as we tackle the Covid backlog https://t.co/fbr7t6Iash
9/ (2) Next the bits about inflation - or rather fixing the bits they have already announced ignoring #NegativePIAs
As previusly announced this will be done by moving revaluation dates in 2015 / 1995 GP scheme to 6th April
I've NOT signed this as I dont think its the right solution IMHO-
1) Not a credible ask
2) Not fiscally responsible / phenominally expensive (see recent events)
3) Dosn't remove huge complexity
4) Does nothing rapidly falling LTA
#TaxUnregistered #FixTheFinanceAct #NegativePIAs
This is #DefinatelyNOTFixed problem @KwasiKwarteng @theresecoffey @MattHancock @trussliz ๐
#FixTheFinanceAct #NegativePIAs #TaxUnregistered
7/ I would very strongly urge government to urgently consider #FixTheFinanceAct (properly including #NegativePIAs) and long term remove complexity and discincentives with a #TaxUnregistered scheme, like the judiciary for high earners forced out of work & NHS
RT if you agree
your HMRC self assessment form (oh and its not "sorted" for GPs either).
Goverment need to start listening if they want to "sort" the problems #FixTheFinanceAct #NegativePIAs #TaxUnregistered #FULLMandatedRecycling
and it is welcome that the Prime Minister has said she wants to"
Pension taxation is extraordinarily compicated @theresecoffey come talk to us @BMA_Pensions for solutions that will work, rather than solutions you think might work
#FixTheFinanceAct #NegativePIAs
#TaxUnregistered
7/ Dr Dan Poulter, in a debate in the House of Commons asked for changes to the Finance Act to fix #CPIdisconnect & #NegativePIAs
6/ I have also personally written to both PM candidates asking for fixes to the Finance Act to fix #CPIdisconnect & #NegativePIAs including carry forward/back & urged govmnt not to "tinker around the edges" with scheme rules, & fix this properly
5/ @TheBMA have asked for Finance Act to fix #CPIdisconnect & #NegativePIAs including carry forward/back
4/ NHS Confederation & NHS Employers asked for aggregation of growth to fix #NegativePIAs and pension growth which is
solely caused by rapidly increasing inflation within the tax year, is not included and tested against the annual allowance
2/ AISMA (representing over half of accountants dealing with medics) asked for changes to the Finance Act to fix #CPIdisconnect & #NegativePIAs including carry forward/back
BREAKING: @DHSCgovuk press release on tommorows announcement
https://t.co/eIh8GXXe49
Initial thoughts: Dont see anything here for @theresecoffey's plan to sort (B)acklog or to sort retention of (D)octors
Needs proper solutions to #FixTheFinanceAct #NegativePIAs #TaxUnregistered
.@theresecoffey @KwasiKwarteng
This ๐ is direct result of (1) failed policy & (2)half baked attempts to fix, suboptimal solutions that donโt go far enough
Need *proper* #FixTheFinanceAct incl #NegativePIAs and long term #TaxUnregistered
Donโt mess this up and destroy the NHS
@goldstone_tony got my brown letter for the second year in a row, Iโm not even 40. The one silver lining is that I left the NHS this year, and this was absolutely one of the factors which influenced me.
1/ Dont agree with much of what is said in today's HSJ article, but great to see these comments from @NHSE_Danny CEO @NHSEmployers - strongest yet on pension taxation
Good to recognise the extremely urgent issues relating to v high inflation #CPIdisconnect #NegativePIAs - these
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