Why Is Inflation So Important for GP Pensions?

Inflation is just a general increase in prices. It reduces your purchasing power of the money You've got in your pocket. The NHS pension increases that a hundred thousand pounds by inflation but also by a further one and a half percent if you had a second year's worth of income on it. Inflation doesn't necessarily impact as much on the 95 and 2008 scheme for hospital doctors But it does the 2015 scheme albeit as clear an issue at the moment. If your pay is not keeping abreast with inflation then GP pensions won't keep up too.