BMA launches tool for GPs to calculate how pensions reforms affect them

By Abi Rimmer, 23 August 2011

The BMA NHS pensions reform modeller allows GPs to see what effects planned reforms will have on their pension.

GPs can input their age, planed retirement age and pension scheme to see how the reforms will affect them individually.

For example, a GP aged 52, planning to retire at 60 and a member of the 1995 scheme, will have to pay an estimated �53,568 in additional contributions.

The estimated reduction to their annual pension would be �8,463 under the reforms.

A GP aged 30, planning to retire at 65 and a member of the 2008 scheme, would see their annual pension reduced �26,415 under the reforms. They will also have to pay an additional �207,905 in contributions.

The BMA is calling on all of its members to respond to the government?s consultation on pension reforms.

To use the tool for yourself and take part in the consultation visit www.bma.org.uk/pensions

• Book at place at our Pensions Conference. A One Day Conference, 15 September 2011, Hammersmith, West London

Source: http://www.gponline.com/channel/news/article/1086112/bma-launches-tool-gps-calculate-pensions-reforms-affect-them/

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