You could be part of the nearly one million teachers who have registered with My Pension Online (MPO) and are benefiting from its features. We know there are constant worries about pension poverty and a pressure to commit to funding our old age. Therefore, the desire to track and plan your pension increases, and MPO is a means of doing this.
If you haven’t registered with MPO, you may wonder why it is essential to the planning and funding of your later life. The benefits include:
- updating your personal details
- checking your monthly Benefit Statement, which will become valid once you have served as a teacher for two years
- being able to complete applications online
- using personalised calculators to help you plan your future.
There are all sorts of events in your life that could require communication with the Teachers’ Pension Scheme. You could, for instance, wish to nominate your dependents, who would benefit should you pass away. You may wish to put in an application for ill-health retirement, as you are unfit to teach in the classroom. There are literally dozens of ways your registration with My Pension Online could be beneficial to you.
You may have noted that the Government announced in the Queen’s Speech a plan to create a portal for individuals to track pensions. You could get ahead of the game and be on top of your teachers’ pension right now.
The content in this article was correct on 21st October 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.