Where can I get some details on how the GMS Scheme for GP's works? There doesn't seem to be anything in the Superannuation Handbooks on www.cspensions.gov.ie
GMS Pension Scheme
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Re: GMS Scheme
Many thanks- appreciate it is an employment contract between HSE & GP's, but there is a Superannuation (pension) element. I was wondering how it works in terms of contributions, retirement/contingent benefits, how they are calculated and so on. There was an earlier post from Brendan which shed some light, ie it is DC, TFLS/Annuity benefit, but no "employer" as such to assume funding responsibility & probably in deficit! (Well, like most current OPS's!). If there is no "employer", is it gov by Pensions Act 1990 and would "trustees" have to put plan in place to remedy deficit within specific time frame?
Many thanks- appreciate it is an employment contract between HSE & GP's, but there is a Superannuation (pension) element. I was wondering how it works in terms of contributions, retirement/contingent benefits, how they are calculated and so on. There was an earlier post from Brendan which shed some light, ie it is DC, TFLS/Annuity benefit, but no "employer" as such to assume funding responsibility & probably in deficit! (Well, like most current OPS's!). If there is no "employer", is it gov by Pensions Act 1990 and would "trustees" have to put plan in place to remedy deficit within specific time frame?
Re: GMS Scheme
Absolutely no apology needed gipimann, all input appreciated. Seems to me it's only when one starts to dig one realises the extent of what seems like a fairly straightforward question!! If it's any use I will come back to this should I find out anything potentially useful.
Absolutely no apology needed gipimann, all input appreciated. Seems to me it's only when one starts to dig one realises the extent of what seems like a fairly straightforward question!! If it's any use I will come back to this should I find out anything potentially useful.
Re: GMS Scheme
The GMS Scheme is a "Defined Contribution" scheme (see other thread in this section) for GP's . Based on a GP's income from the HSE in respect of medical card patients, both the GP and the HSE contribute a % (5% and 10% I think) to the Scheme. The GP can also contribute Additional Voluntary Contributions. But the scheme is a DC not Defined Benefit(as per Civil Servants).
The GMS Scheme is a "Defined Contribution" scheme (see other thread in this section) for GP's . Based on a GP's income from the HSE in respect of medical card patients, both the GP and the HSE contribute a % (5% and 10% I think) to the Scheme. The GP can also contribute Additional Voluntary Contributions. But the scheme is a DC not Defined Benefit(as per Civil Servants).
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Dunphy
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Re: GMS Scheme
Judging by the information Brendan has provided this is a truly unique Scheme! Is there even legislation for such a scheme?? what we have here is a work of art, a DC scheme with all the liabilities of a DB Plan. I would like to know who is going to fund the likely massive deficit?? the taxpayers or the GP's?? Who dreamt up this scheme? ticking timebomb comes to mind
Judging by the information Brendan has provided this is a truly unique Scheme! Is there even legislation for such a scheme?? what we have here is a work of art, a DC scheme with all the liabilities of a DB Plan. I would like to know who is going to fund the likely massive deficit?? the taxpayers or the GP's?? Who dreamt up this scheme? ticking timebomb comes to mind
bigbustour
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Can anyone give me a link to the info Brendan provided. Thanks
Brendan Burgess
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