Latest News: Lump Sum

The latest news and views covering the Teachers Pensions, the Teachers AVC and general Financial Planning news.

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Making best use of your lump sum

17/02/2022 Racheal Smith

When you retire, the Teacher Pension Scheme offer you the option of converting up to 25% of your benefits into a lump sum payment. For every £1 you give up in benefits, you receive £12 in a lump sum[...]

Dreaming of my retirement lump sum

27/05/2021 Racheal Smith

We are getting a long way into the summer term. You may have decided to retire in July or at least played with the idea. Once you reach 55 years old, the possibility of taking early retirement is an e[...]

Life after COVID: Would my family have been secure?

20/04/2021 Racheal Smith

If anything is going to test your feelings of mortality, it is a global pandemic. Being asked to stay home because the slightest social contact could cause someone to fall seriously ill or even die is[...]

word tax with office worker in the background

Tax and the small lump sum

17/09/2020 Racheal Smith

There are tax rules of interest to those teachers with a small pension with the Teachers’ Pension Scheme. A small pension is defined as a fund with the actuarial value less than £10,000. These rule[...]

Should I take my pension lump sum?

28/05/2019 Racheal Smith

When you are approaching retirement, you will have lots of decisions to make about your pension scheme. One of these decisions is whether you should take your lump sum or not. What is a tax-free lu[...]

Will you need your Teachers’ Pension Scheme earlier than planned?

04/04/2019 Racheal Smith

It might interest you to learn that half of the pensioners retired earlier than planned. You may have a solid plot line to your route into retirement. However, we are not always in charge of circu[...]

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[...]

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 [...]

Teachers Pension Lump Sum

14/06/2017 Ged O'Neil Bell

It's about this time of the year, that many teachers who are retiring in the summer will need to make the decision on how they will take benefits from their teachers pension - including the pension l[...]

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