News - Teachers Financial Planning

Could you be due a tax refund?

24/09/2020 Racheal Smith

Recent reports suggest that many pension savers could be due a tax refund after the HMRC revealed that some people had been wrongly taxed. Some people had taken a lump sum from their pension fund and [...]

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[...]

Are you considering a return to teaching?

10/09/2020 Racheal Smith

With the current challenges faced by schools, you might think it is time that you should step back into the classroom to help. The future of young people and their learning potential seems under more [...]

Why should I worry about an Index?

24/08/2020 Racheal Smith

Whenever you read about teachers' pensions – or any pensions come to that – you will find a lot of reference to indexes. It might be that they say your pension is index-linked or that you will rec[...]

What is an Earnings Limit?

17/08/2020 Racheal Smith

Returning to work after retirement Retirement isn’t for everyone. Some people find being away from the classroom and the exuberance of young people too difficult. It might also be that the amount o[...]

What are Career Average pension schemes?

10/08/2020 Racheal Smith

The full name of the career average pension scheme, introduced to teachers in 2015, is CARE. It is a Career Average Revalued Earnings scheme. This is a type of defined benefit scheme offered to you by[...]

Time to have your say: McCloud

03/08/2020 Racheal Smith

It is essential in any democracy that you take the opportunity to have your say. Nothing is more vital to your future than the security of your pension. Soon, the Government are to launch a consultati[...]

Will you be a new starter to teaching in September?

26/07/2020 Racheal Smith

Your teacher training year may have been one of the strangest ever experience, but hopefully, you will have completed your training successfully. Certainly, NEU, the teachers' union petitioned hard fo[...]

Will the current economic crisis impact my pension?

16/07/2020 Racheal Smith

As a teacher, you may feel blessed. Although the profession has never been well paid, the salary continues to come each month no matter the state of the economy. So, with the COVID-19 crisis causing u[...]

Shaping your future pension

09/07/2020 Racheal Smith

We all want a bright future when we retire. The best way to make sure you can enjoy your life after work is to save towards your pension. Each month you and your employer will be contributing to your [...]

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Independent Schools and the Teachers’ Pension

02/07/2020 Racheal Smith

Independent Schools are not automatically enrolled in the Teachers’ Pension Scheme. The school you work for might opt to join the scheme, as part of their pension requirement. Equally, they may opt [...]

You have decided it is time to leave teaching

15/06/2020 Racheal Smith

Dramatic events can cause us to re-evaluate our position in life. It may be that you have enjoyed this extended period out of school, reconnecting with your family. You may have used the time to start[...]

Need to increase your take home pay?

11/06/2020 Racheal Smith

Times are challenging and it may be that you need to boost your salary. It might be that a partner or other member of the household has lost their income and you are now stretching what you earn to co[...]

Keeping your pension safe

07/06/2020 Racheal Smith

Keeping your pension safe Recently, the Pensions Regulator asked that scheme administrators demonstrate additional vigilance against pension scammers. There are new schemes attempting to lure people [...]

Thinking of a future in a different country?

31/05/2020 Racheal Smith

When all the confusion and chaos in the world has passed, you may think it is time to grab new opportunities. Living and working abroad is an exciting adventure. However, you may worry about what it[...]

Are you thinking of moving on and out of teaching?

24/05/2020 Racheal Smith

When we experience a period of disruption and worry, it is not unusual to consider revamping your life. You have likely had an extended time out of the hustle and bustle of a school, and you have beco[...]

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