NHS Pension Workshop for GPs
CLASSIC QUESTION: 'Should I stay or should I go?'
Date: Tuesday 10th February 2015
Time: 7pm - 8.30pm (registration & refreshments from 6.30pm)
Cost: Free to attend (places limited to 30)
Venue: BW Medical Accountants, BW House. 2/3 Park Rd. Gosforth Business Park. NE12 8DG
Register: To book your place, email rachael.mackay@bw-medical.co.uk or telephone 0191 500 6930.
Parking: Free (to the front & rear of the building)
For most GPs who qualified in the early 1980s the classic song 'Should I stay or should I go' by the Clash in 1982 may be memorable. It is however, a question I am often asked by GPs who are now in their mid-to-late 50's.
The continued pressure on the NHS and the additional pressure put on GPs and Practice Managers has become intolerable for many. This coupled together with the continued 'attack' on NHS Pensions, has most GPs questioning whether it is worthwhile being a member of the NHS scheme. In very simple terms, for most GPs, the answer is YES!
The most common questions I get asked from GPs at the moment are:
- How will the reduction in both the Lifetim Allowance & the Annual Allowance affect me?
- Should I remain a member of the scheme or should I opt out of the scheme?
- When can I afford to retire?
- I need to make my choices 2 exercise by 16th March, should I transfer to the 2008 scheme?
- Should I join the 2015 scheme?
Our workshop will explain the NHS Pension scheme so you understand the value of the benefits it provides. We will also address some of the pitfalls to watch out for and provide some steps you should take in order to obtain accurate information regarding your own personal circumatances which will enable you to make informed financial decisions.
Despite the NHS Pension Agency being behind the curve with the right information, our independent financial advisers can tell you;
- What is the actual value of your benefits as at 5/4/14 as this determines your personal limit for IP14.
- Where are you with the Annual Allowance for 2012/13, 2013/14 and 2014/15 when the limit went down to £40,000.
- Should the scheme pay or should you pay any tax liabilities?
- Should you take 24 hour retirement?
- Should you stay or should you go now?
The speakers:
Kevin Walker
NHS Pension Specialist / Independent Financial Adviser
Kevin has worked in the financial management industry for over 30 years and has extensive wealth management experience alongside exceptional knowledge and understanding of NHS Pensions policy and final salary pension schemes. Kevin lectures nationally to LMC’s, CCG meetings, GP educational events and has also been a guest speaker for national medical conferences such as Pulse Live, providing specialist advice and support on complex NHS pension changes. Despite the NHS Pension Agency being behind the curve, Kevin and his team have developed an in-house financial forecasting model to provide our clients with accurate information, advance warning re Annual Allowance (AA) and Lifetime Allowance (LTA) problems but most importantly specialist independent advice as to what they should do about it!
Keith Taylor
Specialist Medical Accountant / Head of Medical Services
Keith is a chartered accountant and has worked in the profession for over 32 years, latterly specialising in the delivery of specialist accountancy and taxation services to GP Practices and healthcare professionals. With a proven track record in medical finance and a wealth of experience, Keith is a leading expert in accountancy services for the healthcare sector. His vision was to create a niche firm which raises the bar in terms of medical accountancy service provision. By recruiting a talented team with proven track records our depth and breadth of knowledge is unrivalled. BW currently has the largest and most experienced medical finance team in the North and acts for over 70 GP Practices and over 500 medical professionals across England.