To qualify for benefits, you need to have two or more years of pensionable service. Once you have qualified for benefits, you will receive a Benefit Statement each year. Alternatively, you will be able to view this Benefit Statement online at MPO (My Pension Online).
This statement publishes your current estimated amount of your overall pension – with a breakdown by arrangement if applicable. It is essential to note that this is not an illustration of your pension based on any future accruals. This is a statement of the amount you would get from your pension should you retire at Normal Pension Age (NPA) having made no further contributions.
The statement also does not reflect any deductions that might need to be made from the pension at retirement.
You will also see a breakdown of your service and salary on the statement. If this is incorrect, you need to approach your employer in the first instance. If the error is over several employments, you should contact the Teachers’ Pension Scheme in the first instance.
The content in this article was correct on 15th November 2019. You should not rely on this article to make important financial decisions. Teachers Financial Planning offers advice on pensions for teachers and non-teachers. Please use the contact form below to arrange an informal chat with an advisor and see how we can help you.