Pension advice for GPs (2019)

Aug 22, 2019

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Pension advice for GPs

How much do you know about pensions as a GP? This video covers everything you need to know with our pension experts: Accountant Rachael Hall, GP Survival Chair Dr Nick Grundy, and ex BMA pension lead Dr Krishan Aggarwal.

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How much do you know about pensions as a GP? This video covers everything you need to know with our pension experts.

Meet our expert speakers:

Rachael Hall: @hall_nhs https://twitter.com/hall_nhsNicholas Grundy: @Nick_grundy https://twitter.com/nick_grundyKrishan Aggarwal: @krishanx https://twitter.com/krishanx

2:00 Intro: Rachael Hall NHS pension accountant expert2:30 Intro: Nick Grundy - Chair of GP Survival - support us at https://paypal.me/GPSurvival3:00 Intro: Krishan Aggrawal - BMA lead for PEnsions3:45 What is the NHS pension scheme as a defined benefit scheme and why is it different to almost every other pension scheme?5:30 If I contribute more in a year that will benefit me more won’t it?6:10 Dependence cover and Death in service benefits. What are they and what do you need to know?7:00 ‘Death in service’ vs ‘Death in benefit/after service’8:30 The difference in Tier 1 and Tier 2 payments9:00 Why the NHS pension is so good12:15 What is the annual allowance?13:15 Why there is a problem with the annual allowance and the NHS pension.14:45 Nick’s example of the annual allowance problem16:40 The taper conundrum17:40 Lifetime Allowance20:42 Should I stay in the NHS pension? Racheal and Krishan’s answer

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23:50 Unofficial Pension advice - in Facebook groups especially.24:50 Nicholas Grundy advice about staying in the NHS pension: ‘yes but…’ Why he left and rejoined. 25:57 the Tony Goldstone method. https://twitter.com/goldstone_tonyThe Goldstone pension modeler: https://www.bma.org.uk/news/2019/july/bma-launches-pensions-modeller

27:29 Capita…...The impact they have had and what you need to do.30:00 What you need to do now as a GP32.17: Should NHS England pay GPs for sorting Capita's failings?33:00 How your Total Reward statements work: https://www.totalrewardstatements.nhs.uk/33:30 Check your TRS!34:40 Divorce and your pension.36:20 The 50:50 offer 37:00 Rachael’s tips37:30 Nick’s top tips38:30 Krishan’s top tips

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