Thursday, January 19, 2012

The First Cut Is The Deepest?

If you have an NHS pension, this first cut might be the deepest, but make no mistake.......


Remember that pension that you signed a contract for? You know, the one that us doctors have paid billions of pounds more into that has been taken out, the one that is still going to be in surplus for years if nothing changes?

Well - it's now worth a WHOLE LOT LESS, and if you don't think more (euphemistically termed) 'renegotiations' are coming after this one, then YOU ARE A FOOL. Blindly paying money into the debt-intoxicated super-Ponzi scheme black hole that is Her Majesty's Exchequer is actually as stupid as it sounds.

The Baby boomer generation had to put up with a couple of years of sweet rationing when they were kids, so they felt an entitlement to saddle the burden of massive debts on YOUR (as yet unborn) grandchildren's shoulders., and make sure you'll never get to bounce them on YOU knee because you'll work till you die.

They've run off with the money, run up the debts, and now they want YOU to pay for it AND wipe their arses whilst they whinge about how much YOU 'get paid'.

You are not going to get away with only paying £200,000 for the honour of working 7 more years.

What can you do?

Well, we could all transfer our money to privately run schemes where there are real assets backing them. That's sounds better than an I.O.U. from a bunch of kleptocrats in thrall to the banking cabal, doesn't it? If we all did that, then the government would have to find BILLIONS of REAL pounds RIGHT NOW! I don't fancy their chances do you? They need all the money to pay their chums that hold all those ridiculous gold-plated PFI scheme and other off balance-sheet debt.

In another shock move, you are currently unable to transfer out of the NHS pension scheme even if you want to.

Now, there's a surprise.......

Dr Rant will be looking at the options, and keeping you informed.


Jobbing Doctor said...

Ah Rant!

Welcome back!

You and Nurse Anne in 2 days!! Heaven.

Dr No said...

Good to see you back - but now is not the time to be ranting about pensions reform. It has the potential to turn into a spectacular own goal. But then again - the BMA are rather good at that sort of thing...

Dr Rant said...

I'd rather score my own own goal than let the Government score it and then blame it on me.

Some of us have 30 years more of shite.

Dr No obviously is within 10 years of his pension and is protected, hence the confidence to come over all noble.

Nurse Anne said...

Hi Dr. Rant,

I paid into to the NHS pension for over a decade. When I ran screaming from NHS ward nursing and immigrated to the United States I was told that I will never see the money I paid in to the pension fund ever again. They would not let me transfer into my 401 K here. That's thousands gone. But oh well. To be honest I kind of figured out years and years before I left the NHS that neither I or any of the rest of us would really ever see our pensions that we paid into.

Not with the debt problems, the economy, and such a deceitful government. The baby boomers want everything, and what they want costs a hell of a lot more than what they paid in. Generation Y does nothing but sit on their fat umemployed asses in front of their xboxes. Yet these two groups want everything taken care of for them by the government. They all cost more than they put in.

Those of us squeezed in the middle who work hard are going to get shafted. I saw the writing on the wall years ago and figured out that I would be working till I am 90 and yet never see any pension that I paid into. I am sure that the US government will find away to screw me out of my 401 K somehow too.

Anyway I am glad to see you are blogging again. I still have a bit of a blogger crush on you because you are freaking brilliant!!

Militant Medical Nurse

Dr No said...

Dr No is already 'retired', courtesy of fuck-off NHS management and fuckwit colleagues. He hates the bastards just as much as you do. His current protected 'entitlement' is about £5500pa. Fucking peanuts.

So don't give me any of that 'come over all noble' crap. Perhaps you are just shitting yourself that your £70K pension might turn out at £69K.

Greed is always a bad idea. It seems they might finally shred Fred. If you, the BMA, and doctors in general don't pull your fucking fingers out of your arses, and stop being so precious, then you too might end up shredded. I'll be very happy to refuel the shredder once the first lot have gone through.

Dr Rant said...
This comment has been removed by the author.
Dr Rant said...

So don't give me any of that 'come over all noble' crap. Perhaps you are just shitting yourself that your £70K pension might turn out at £69K.

As you said, it doesn't affect YOU so you're unlikely to see it as we do.

I'm less worried about the size of the pension on which I retire. Paying an extra £200,000 to work 7 or 8 extra years to retire on the pension that I signed a contract for DOES worry me.

It's the restrictions on me gutting my hands on when I want or need it that scare the SHIT out of me.

As I said, I'm no mug when it comes to finance and I'm running the figures myself. I reckon that I can do better on my own, and have more control over when I retire.

Dr J said...

I agree with you Dr R. I think that GPs could start looking at private providers. The threat of this is something that the BMA might use as our 'industrial action'. Our options on that front would seem to be limited otherwise. There must be some private provider out there who would love to take a load of GPs pensions on board.

The Angry Medic said...

Good God Dr Rant, you're still alive!

And still as eloquent as ever. As one of your long-time rabid stalke-- uh, admiring fans *cough* I'm glad some of the Crippen-era old guard are still around. Keep it up.

The doubter said...

Yep..... I got well and truly screwed by pensions, thought I was in a finally salaried scheme, but then they devalued it twice...LOL, crying!!! Giving your money to faceless institutions, who can change the rules at anytime....Hmmm, doesn't seem such a good idea now!! Live, learn and evolve!! :)

Nurse and Hospital Stories said...

"Dr Rant will be looking at the options, and keeping you informed."

Keep us updated, eh. In the case of NHS, the first cut is not the deepest, it is just a scar. :(

Peny@greys anatomy scrubs

Anonymous said...

MMCA said...

Not in the medical profession so could you explain how you pay £200k over 8 years?

Patient Pagers said...

Transfering out wouldnt be the best option for everyone, in fact it would be best for most in the NHS Scheme

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Anonymous said...

glad to see your first post for zonks was about your wallet! Some things never change you greedy bastard.

alexander r said...

nice post

Anonymous said...

The whole idea of the baby boomers passing down the debt is just plain beyond me. I would love to understand why they don't allow staff to transfer out their well earned pensions. Waiting for some good news
Jenny the scrubs lover

Anonymous said...

The pensions theft is a fcuking disgrace only equaled by the piss poor response by the BMA in letting it happen.

A massive annual surplus in the NHS pension scheme - we should be getting a fcuking refund!!!


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