Racheal Smith, Author at Teachers Financial Planning

Teacher Pension Scheme Survivor Benefits

20/01/2021 Racheal Smith

NEU has been petitioning to secure full equality on survivor rights within the Teachers’ Pension Scheme. The union for teachers brought a claim against the Government, claiming discrimination. The [...]

Pension record: how accurate is yours?

15/01/2021 Racheal Smith

There has been an increasing fragmentation of the education system, with many more small employers of teachers. Not only is the system more fractured, but teachers’ careers are more likely now to sp[...]

Power of Attorney Changes

10/01/2021 Racheal Smith

Sometimes life takes a turn, and you cannot be responsible for your personal financial concerns anymore. At these times, you may choose to put a Lasting Power of Attorney (LPA) in place, giving the re[...]

Why save into a pension?

27/12/2020 Racheal Smith

When money is tight, and the present seems so complicated and uncertain, it feels impossible to contemplate paying into a pension. Not only is the Teacher Pensions’ Scheme a generous fund that offer[...]

The advantages of your Teachers’ Pension Scheme

20/12/2020 Racheal Smith

You have decided you need to start saving for your retirement. The fact you could be living on much less than £200 a week on a state pension has sunk in. You need to decide how you are going to do th[...]

Pensions and COVID-19

13/12/2020 Racheal Smith

With the pandemic impacting every part of our lives, it is not surprising if you worry that it is affecting your pension. It is essential to know from the beginning that your pension is protected b[...]

5 Reasons we are proud of teachers

07/12/2020 Racheal Smith

It has been a challenging year, and there have been many key worker positions celebrated. Expectations placed on teachers during this time have been intense. First, there was the requirement to adapt [...]

Maximum Extra Pension

26/11/2020 Racheal Smith

Have you considered adding more money to your pension? The Teachers’ Pension Schemes offers Pension Flexibilities that allow you to increase your benefits. Why would you increase your contributions[...]

Young teachers: how much should you be paying towards your pension?

19/11/2020 Racheal Smith

You may have just qualified as a teacher, maybe as young as 22, and you are aware that you have been enrolled in a pension. You might be one of the lucky ones who doesn’t notice the lump sum leaving[...]

Additional Earnings with the National Tutoring Programme?

12/11/2020 Racheal Smith

Suppose you are a retired teacher looking to make some extra money. In that case, the National Tutoring Programme could offer an excellent opportunity. Here we look at what this programme entails and [...]

The Government’s Catch Up Scheme

05/11/2020 Racheal Smith

Are you a retired teacher who has taken up a role within the National Tutoring Programme? This is the programme that hopes to help students catch up after the lockdown. If you have chosen to return to[...]

What is the ‘Triple Lock’ on state pensions?

29/10/2020 Racheal Smith

When planning retirement, the amount a teacher gets from the state pension is an integral part of this process. In 2010, the Conservative and Liberal Democrat coalition brought in a “triple lock�[...]

What is the pension freedoms age?

22/10/2020 Racheal Smith

Everyone is looking to the changes that are needed to get the British economy back on track. Money needs to be saved everywhere and anywhere. To be fair, the ageing population has long since been a co[...]

When can I collect my Teachers’ pension?

15/10/2020 Racheal Smith

With all that is happening in schools, it is understandable that you might be thinking of retiring. When you reach a certain length of service, having to renew the way you work makes your job too chal[...]

The Teachers’ Pension Scheme and the Independent Sector

08/10/2020 Racheal Smith

For schools, the Teachers’ Pension Scheme (TPS) became less attractive when the contributions for members went from 16.4% moved to 23.68% in England and Wales. The changes, which came into effect on[...]

Could you be a victim of the gender pension gap?

01/10/2020 Racheal Smith

According to the latest data, a single mother retiring now averages a pension fund of £18300. A man retiring will average a pension fund of £156,000. This is the gender pension gap in its starkest. [...]

Latest NewsPosts By: Racheal Smith