Teachers Pension Archives - Teachers Financial Planning

Making the most of your teachers’ pension

02/08/2019 Racheal Smith

Is your teachers' pension good? A fair question, you do pay a lot of contributions each month. The great news is that the teachers' pension, even the less generous career average scheme, is one of the[...]

Teachers’ Pension: Buy extra years

20/07/2019 Racheal Smith

An introduction to the Teachers’ Pension Scheme You may have entered the teaching profession for the holidays. However, you might also quickly realise that time off is a myth, and you only get a [...]

When the teachers’ pension might not be enough: AVCs

18/07/2019 Racheal Smith

Poverty in old age Although the teachers' pension is regarded as a generous scheme by some, it is sensible to consider the possible consequences of poverty in old age. You do not want to work hard [...]

Teachers’ Pension Scheme: dealing with breaks in service

17/07/2019 Racheal Smith

Very few people enjoy a career for life or continue in a job without breaks. If you experience an interruption in service there will be some impact on your pension. From April 2015, the Teachers�[...]

Should you be happy with the career average

What is the Career Average teacher’s pension scheme?

25/06/2019 Racheal Smith

All teachers working in state schools in the UK are enrolled in the Teachers’ Pension Scheme. Many teachers who have been working for many years will have been enrolled in the final salary scheme.[...]

Is a teachers’ pension good?

27/05/2019 Racheal Smith

Some background details If you start with the teachers’ pension scheme today, you will be joining a career average scheme. Basically, this means you will receive a pension worked out as an averag[...]

Are you new to the teachers’ pension scheme?

26/05/2019 Racheal Smith

If you are just starting in the teaching profession, then you will also be new to your pension. The Teachers' Pension Scheme offers support to those starting in the scheme. They call this Pension [...]

Brexit for those retired and living overseas

07/05/2019 Racheal Smith

With all the chaos surrounding Brexit, it is essential to have some certainty. The Teachers' Pension Scheme report that those living overseas will continue to be paid their pension as usual if the U[...]

Teachers’ Pension Scheme Board

30/04/2019 Racheal Smith

About the board In 2015, the Teachers' Pension Scheme Pension Board was established to offer extra assurance to members, employers, taxpayers, and the government. The board provides evidence that[...]

Cashing in but losing out?

17/03/2019 Racheal Smith

The Financial Conduct Authority (FCA) has issued a stark warning to pensioners. They claim that savers could be missing out on their retirement income when they choose to access pension freedoms. Th[...]

Tax Return Due?

13/01/2019 Racheal Smith

It is the time of year when your tax return is due. This is relevant to people who earn money in addition to teaching and/ or outside the PAYE scheme. As it is January, it is a useful time to off[...]

Are teachers in danger of falling prey to pension scams?

04/01/2019 Racheal Smith

Fortunately for teachers, there is little chance of you falling prey to scams, as the money within the teachers' pension scheme is non-transferable. However, if you have an Additional Voluntary Cont[...]

Your Pensions Dashboard

19/12/2018 Racheal Smith

For a long time, the Teachers' Pension Scheme website has had a dashboard. This website is a portal where you can view your pension fund and manage your membership of the scheme. Interestingly, in[...]

Teachers Pension Actuarial Reductions

11/12/2018 Ged O'Neil Bell

There is something you need to know about the Teachers Pension and Actuarial Reductions. This is the impact on your pension when you decide to take early retirement. My Pension Online (MPO) - the o[...]

Do you know about pension tax?

10/12/2018 Racheal Smith

Before we begin, you need to know that your teacher pension cannot be drawn down early. Therefore, the only part of your pension that is relevant is the voluntary contributions you have been making [...]

Actuarial Reduction And The Teachers Pension

10/12/2018 Racheal Smith

Actuarial Reduction And The Teachers’ Pension There is something you need to know about actuarial reduction & the Teachers’ Pension. This is the impact on your pension when you decide to ta[...]

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