News - Teachers Financial Planning

The Public Service Pensions and Judicial Offices Bill

21/09/2021 Racheal Smith

The review undertaken in response to the court cases of McCloud and Sargeant has resulted in primary legislation. These court cases identified discrimination based on age within the Teachers’ Pensio[...]

Your pension and returning to teaching

14/09/2021 Racheal Smith

So, you’ve done it. Every September since leaving teaching, you have felt that weird itchiness to be filling in your registers again. You have missed your annual ritual of colour coding your timetab[...]

Yearning for the classroom?

07/09/2021 Racheal Smith

September is here, and you feel that itchy sensation in the classroom making that difference you once did. You may have left teaching a while ago, but teaching refuses to leave you, and each autumn te[...]

New Starter: Qualifying for benefits

26/08/2021 Racheal Smith

There is a phrase you will come across a lot when reading about your pension; this is your pensionable service. Sometimes, pensionable service is also known as eligible service and is the time in empl[...]

New Starter: Joining and Tracking your Pension

19/08/2021 Racheal Smith

Starting out in teaching is a challenging time and you have a lot to think about. While you might not think your pension is one of your most significant priorities – with lesson planning, marking an[...]

New Starter: Important Dates

12/08/2021 Racheal Smith

You might think that starting your career is frantic enough, without having to think about your pension too. In fact, your pension feels a good 40 years or more away, and there are more pressing prior[...]

New Starter: Basic Pension Information

05/08/2021 Racheal Smith

You are about to enter a career working with young people, helping them fulfil the potential each one offers. Teaching is a vocation imbued with the benefits of fulfilment and a sense you are making a[...]

Retirement Planning: deciding to continue working

29/07/2021 Racheal Smith

For some people, the idea of not going to work sounds mind-blowingly dull. It might also be that the sense of drive and ambition to succeed and push forward an agenda still burns inside. Work outside[...]

Retirement Planning: making the most of the lump sum

27/07/2021 Racheal Smith

All the talk so far about retirement has been quite serious. The talk about finances, emotions and continuing to work doesn’t make this period sound like any fun at all. But when you leave teaching [...]

Retirement Planning: making your financial preparations

22/07/2021 Racheal Smith

Now you have started to consider your emotional needs for retirement, you may have noticed that living a full life will take money during this stage of your life. You will want to make sure your finan[...]

Retirement Planning: making your emotional preparations

20/07/2021 Racheal Smith

It is July, and for many teachers, it is the long, slow, drawn-out weeks before the summer holidays. For others, retirement comes with the end of this school year, and life is likely to change dramati[...]

Choosing Faster Accrual

29/06/2021 Racheal Smith

Adding to your pension may be an excellent way to secure your financial security in later life. It is also a good way to protect your family, whether you become too ill to work or die in service. Incr[...]

Choosing Buy Out

22/06/2021 Racheal Smith

Changes in the law have stretched the retirement age for many to 67 or 68 under the Career Average arrangement. Some teachers may have an NPA age of 60 for the final salary arrangement or NPA 65. Ther[...]

Choosing Additional Pension

15/06/2021 Racheal Smith

The schemes to pay more into your pension are called flexibilities, and the only one available to Final Salary is Additional Pension. You can also purchase Additional Pension in the Career Average arr[...]

Making the most of your pension

08/06/2021 Racheal Smith

It is easy to perceive that your pension contributions are another additional expense. The amount coming out of your salary feels a lot, but we all appreciate that a pension in retirement is a necessa[...]

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[...]

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