Teachers Pension Archives - Teachers Financial Planning

Teachers’ Pension: calculating your ill-health retirement award

04/10/2019 Racheal Smith

There are lots of criteria to consider when calculating your ill-health retirement award. You will be within the Final Salary arrangement or the Career Average arrangement or a mixture of both. Yo[...]

Teachers’ Pension: providing medical evidence to prove ill-health

03/10/2019 Racheal Smith

A period of ill-health is scary on a personal level and leaves you worrying about your finances. You could qualify for ill-health retirement. However, you will be expected to provide supporting me[...]

Teachers’ Pension: how to apply for your ill-health benefits

02/10/2019 Racheal Smith

There are two scenarios for when you might apply for ill health benefit. The first is if you are applying within two years of leaving pensionable service or you are still in employment when you wer[...]

Teachers’ Pension Scheme: Election

10/09/2019 Racheal Smith

Are you confused by the use of the word ‘election’ on the Teachers’ Pension Scheme website? You may envision some vote or a ballot period where you may or may not be selected to be eligible. I[...]

The Teachers’ Pension Scheme Benefits Statement

09/09/2019 Racheal Smith

If you are a member of the Teachers' Pension Scheme, each year, you should receive communication relaying your benefits statement. This may come as a letter, or you may review the benefits statement[...]

Teachers’ Pension Scheme: when the worst happens

08/09/2019 Racheal Smith

We all like to plan for a bright future. However, sometimes, we must take account of the potential for something to go wrong. You might die while still serving as a teacher. Although you may not[...]

Teachers’ Pension Scheme: what is a hypothetical calculation?

07/09/2019 Racheal Smith

The question of hypothetical calculations is only relevant to members of the Teachers' Pension Scheme in the Final Salary Scheme, or if you are a member who will transition between schemes. You will[...]

Teachers’ Pension Scheme: what is a teaching service history?

06/09/2019 Racheal Smith

Your teaching service history is essential to the calculation of your pension. It is the record of your employment. This has been compiled from your employer who returns information to the scheme.[...]

Do you know how your other half lives?

05/09/2019 Racheal Smith

When you have a teachers’ pension, it is tempting to feel content that you will be secure in later life. Part of your plans will be the contribution your partner makes to your income and savings.�[...]

Could your Teachers’ Pension income survive an emergency?

01/09/2019 Racheal Smith

Teachers' pension early retirement factors may be playing on your mind. You may be wondering what it would take to leave the classroom from 55 onwards. Most people are conscientious and plan for retir[...]

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[...]

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