The whole Tory party is hitched to the wagon of Brexit lies, so the leader must be a liar, too. And when you routinely lie about one topic, it becomes second nature to lie about others. So honesty can never return to our government until we have a party in power that openly admits to all the disastrous effects of Brexit.

Farage is actually being honest, it feels insane, but he is not a tory so he can tell the truth as he feels it.

There is nothing coming this way for us, not for a long time.

I feel the need to share this.

My doctor friend is 60 this year she just asked for my advice on retirement. She wants to keep working P/T as she is a young and fit 59yo.

According to her the NHS pension scheme she is in (there are multiple ones) means that if she doesn't take it at 60 there is no financial benefit to her by delaying it.

If she takes it and continues working in the NHS then all her pension will be taxed at the higher rate.

So her choices are:

1. Retire properly and put her feet up which will be a loss to the NHS.

2. Carry on working and take her pension and be punished by the tax man.

3. Carry on working don't take her pension and lose that money.

Luckily for us the NHS isn't desperate for GPs as you might consider that the pension scheme actually deters people from continuing to work.

I assume this impacts other NHS workers so why the hell don't they incentivise them to stay past 60 by increasing their pension for every year they defer it.

Anyway I have suggested she see an IFA who specialises in GP's hopefully he can suggest a solution.

Sometimes you just despair with the morons who come up with these schemes.

Edited by Badger11 (31 May 2023 3.34pm)

You have offered sound advice. It all depends on what type of scheme she is in but most pay increased amounts for a deferment

Delaying taking any annuity should increase the amount in later years, for very obvious reasons. If she draws it now and still works then she risks falling into higher tax bands.

You can defer taking the state pension and get a 1% increase for every 5 weeks deferred.

1% gross or on the actual weekly amount. So basically you can double your state pension if you defer for ten years or am I reading it wrong?

You have offered sound advice. It all depends on what type of scheme she is in but most pay increased amounts for a deferment

Delaying taking any annuity should increase the amount in later years, for very obvious reasons. If she draws it now and still works then she risks falling into higher tax bands.

The IFA might advise moving her pension pot to another scheme, although whether that is possible within the NHS is an unknown.

You can defer taking the state pension and get a 1% increase for every 5 weeks deferred.

Edited by Wisbech Eagle (31 May 2023 9.46pm)