Dynamising factor may be a resignation issue
From Dr J Loveday, Chesterfield, Derbyshire
I am gobsmacked and perhaps I shouldn't be to read that Government ministers are saying the dynamised increase in GP pensions as a result of nGMS will be unaffordable.
When the contract was on the table and the Government and GPC were anxious to secure a Yes vote, the GPC circulated to all GPs a document headed 'Pension increases under the new contract'.
This predicted that an increase in new revenue of 33 per cent would produce a rise in profits of 46 per cent and that this would result in an increase in the dynamising factor of approximately 56 per cent over three years.
The latter figure was heavily publicised and I don't remember the Government (which must have seen the GPC document) making any attempt to deny it. For many of us it was this information that tipped the balance in favour of the contract.
Now we read the predicted increase in the dynamising factor is in the region of 30-40 per cent and the Government is saying this is unaffordable.
If this Government has any remaining credibility this will destroy it.
I think it came as a surprise to both the GPC and the rest of the profession when we discovered that the QOF payments were to be top-sliced by 30 per cent because both the employers' and employees' contribution were to be deducted.
The profession took this 'sleight of hand' on the chin but any attempt to massage the dynamising factor would be unacceptable and many would consider it a resignation issue.