Wendy Baillie

speaker

482 appearances 3 recordings 1 series first heard Jun 2026 last heard 11 Aug

Wendy Baillie’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 2.

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Talking General Practice · GP Money Matters: Understanding your NHS pension and the McCloud judgment · 9 Jun 2026 podcast

Or you would have had a statement that shows both options for McLeod.

And for so many of our clients that we are speaking to now today,

They still don't have any idea what those options are and what those choices are.

And that just makes it really, really difficult to be able to start to plan ahead.

If you don't have the numbers, then you can't really do much planning.

And what the admin centres are telling us is that they fall out fast.

from McLeod has just been landed on them and they don't have the capacity or the systems even to be able to calculate everybody's numbers differently you're talking a million people plus that's an awful lot of people to have numbers recalculated for pensions and so it's a massive headache for them never mind a massive headache for our GPs.

So good question.

If you were a member of the pension scheme on the 1st of April 2012 and were still a member at the 1st of April 2015, or you opted back in after a break of less than five years, then you are impacted by McLeod and you will have to make a decision around McLeod.

And some of the knock-on impacts of that fairness judgment involve decisions that you might have made about your pension scheme.

Previously, for example, we have people who maybe retired, took their 1995 benefits early because they were going to be forced into the 2015 scheme and they didn't really want to be in that scheme.

Or we have people who, what we call did the hokey-cokey, opted in and out, didn't want to be in the 15 scheme.

Or we have people who made choices to go into the 2008 scheme that they wouldn't have made before.

If it wasn't for the 2015 scheme looming.

So there's lots of different considerations to take into account there.

But the biggest problem is that we all need to at some point start thinking about our exit strategy and our retirement and what that actually looks like.

And I think it's all very well thinking, right, okay, I'm going to buy a boat.

I'm going to go around the world three times.

I'm going to live in a castle or buy a camper van, do all of that stuff.

But if you don't know what you're going to have to live on and when, then you cannot start making those decisions with any sort of reality in mind.

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