Client Portal Independent financial planning advice for teachers

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Advice

You don't know, what you don't know - Why not get in touch with us today and see how our advisers can help you and your family plan the future you want.

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The Teachers Pension

The Teachers Pension is a Defined Benefits pension scheme which can be based on Final Salary, Career Average or both.

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It is a very valuable benefit and we would almost always recommend that you are opted into the scheme.

There are currently three versions of the teachers’ pension scheme depending on your date of birth, when you started making your contributions and if you have had any significant breaks in service which bridged the first changes in 2007.

Teachers AVC

The Teachers Pension AVC with Prudential is there to help you to build up a pot of money to provide an additional source of income in retirement.

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The Teachers AVC with Prudential is a money purchase (or defined contribution) scheme, unlike the main Teachers Pension which is a defined benefit (or final salary) scheme.

This means that rather than having a guarantee on future income based on your earnings and the amount of time you have contributed like the main Teachers Pension, the benefits you get will depend on the amount that you have saved, it’s growth and your choice of converting the pot to income.

Retirement Planning

Retirement planning can be very complex and the decisions you make now can have profound effects on your family finances, for this generation and the the next.

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The problem for many when it comes to retirement planning is that you don’t know, what you don’t know and often find this out when it too late to make any changes.

We take a holistic approach to retirement planning and we work with these teachers to help them make sure their finances are on track for the retirement they want.

Portfolio Review

When was the last time that you sat down and made sure your money was really working for you?

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We believe that you should review your all of your savings and investments at least once a year.

Interest rates on bank deposits and savings are at an all time low and increasingly saving returns are dependent on bonus interest rates that drop away after a short period of time, typically 12 months.

Protection

Insurance can be used to protect yourself and your family against the risk of financial loss as a result of sickness, death and tax.

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The protection that most are familiar with is life assurance and this can be an important safeguard, but not everyone needs it: it pays out a lump sum or an income on death so if you are a single person with no dependents it might be a waste of time.

There are many different varieties of life cover you can choose and your own needs will determine how you should set up the benefits to be paid.

Investing

The first time many teachers will consider investing rather than saving will be when they receive their Teachers Pension lump sum.

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Regardless of your appetite for risk, your savings and investments need to be diversified and viewed as short, medium or long term holdings.

As part of a well planned retirement strategy, we would always recommend that you hold some of your money in readily accessible cash in either a savings or deposit account to cover any emergencies.

Teachers Financial Planning Limited is an appointed representative of LJ Financial Planning Limited which is authorised and regulated by the Financial Conduct Authority. Financial Services Authority firm registration number 552276. Content on this website is provided for information purposes only and should not be considered advice. The information contained within this website is subject to the United Kingdom regulatory regime and is therefore primarily targeted to consumers in the United Kingdom. Registered in England & Wales 07612896. Registered Office: 750 Mandarin Court, Centre Park, Warrington, WA1 1GG. Calls to 08452 69 69 90 cost 5p [or 5p per minute] plus your phone company's access charge.

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