Doctors’ pensions: no trust in this government

Mahase reports that doctors will be able to halve pension contributions to ease tax burden.1 I won’t hold my breath. A consultation will start at the end of June. Meanwhile, many doctors are worried sick about the prospect of huge tax bills down the line.

Will the 50:50 option apply to members of the 1995 scheme or will they need to move to the 2015 scheme? In doing so, they will probably forego the opportunity to move to the top salary increments and end up losing more pension than they save in tax.

I gave up my 20s to prop up the NHS, working onerous rotas up to 136 hours a week, with overtime paid at a small fraction of the normal hourly rate. Barely able to keep my eyes open as I drove home from work, I comforted myself that at least I would retire with a nice pension. Well, I won’t be poor, but my pension will be a lot less than I was promised. All trust has been eroded with this government.

We need the BMA to be tough negotiators on this. The government will offer a poor deal and hope that we are desperate enough to accept it as a quick fix. But as doctors we know that opting for the quick fix is rarely worthwhile.