News - Teachers Financial Planning

New job, new benefits

06/05/2021 Racheal Smith

At this time of year, trainee teachers are amid job applications and interviews. It is a stressful time, wondering if you will ever get that first step on the ladder. It becomes a race to July, and [...]

Life After COVID: Leaving teaching

29/04/2021 Racheal Smith

Who would have been a teacher during the pandemic? Living on the frontline Most outsiders thought the teaching profession had it easy because the schools were closed. However, they weren’t really.[...]

Life After COVID: securing a financial future

27/04/2021 Racheal Smith

We have learnt that life is uncertain in the past year. For all our planning and beliefs in our right to old age, we have had this security threatened. As a teacher, you may have been in the fortunate[...]

Life After COVID: securing financial peace of mind

22/04/2021 Racheal Smith

The past year has been filled with unbearable uncertainty. While, as a teacher, your salary continued to be paid, your partner and loved ones may have lost work or been furloughed. Even as a teacher, [...]

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[...]

To retire or not to retire: an important question

15/04/2021 Racheal Smith

April is a significant month for people of a certain age. You are now within four months of your retirement date and could submit your application to retire this year. A significant factor in your dec[...]

More on retirement planning

13/04/2021 Racheal Smith

As you can only submit your form four months before you retire, April is a popular month for teachers to begin thinking about the future. If you are over 55, you could make the leap to leave teaching [...]

Preparing for retirement from teaching

08/04/2021 Racheal Smith

It may only be April, but you could be beginning your preparations for retirement now. The application process for retirement takes some time to process, and receiving your pension on time requires fo[...]

What Teacher Pension Scheme am I in?

06/04/2021 Racheal Smith

When you come to check your pension fund on My Pension Online, you might find that there are two sets of figures listed. There will be money held in a Final Salary arrangement and some in the Career A[...]

Viewing your benefit statement

25/02/2021 Racheal Smith

Understanding how much is stored in your pension fund can help you make decisions about your future. While the Teachers' Pension Scheme cannot offer you a projection of your final benefits, they can k[...]

Teachers’ Pension Scheme revaluation

18/02/2021 Racheal Smith

Each year HM Treasury release a percentage amount that should be used to revalue public pension schemes. This revaluation is intended to keep the pension fund in line with inflation, so money paid in [...]

Teachers’ Pension Scheme and projections

11/02/2021 Racheal Smith

When you plan for the future, it feels easier to make decisions when there are confirmed figures. Ideally, you would go to the Teachers’ Pension Scheme website and to your dashboard, and there would[...]

Why do you need an independent financial advisor?

04/02/2021 Racheal Smith

The services and information provided by the Teacher Pension Scheme feel comprehensive and transparent. It is easy to assume that you can quickly act on the information provided. However, the Teacher [...]

Save Pensions Sacrifice Pay

25/01/2021 Racheal Smith

If you work in the Independent School sector, you may be asked to sacrifice pay to absorb some of the 43% hike in employer contribution. The reduction in income is a way of allowing teachers in these [...]

Teacher Pension Scheme Survivor Benefits

20/01/2021 Racheal Smith

NEU has been petitioning to secure full equality on survivor rights within the Teachers’ Pension Scheme. The union for teachers brought a claim against the Government, claiming discrimination. The [...]

Pension record: how accurate is yours?

15/01/2021 Racheal Smith

There has been an increasing fragmentation of the education system, with many more small employers of teachers. Not only is the system more fractured, but teachers’ careers are more likely now to sp[...]

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