News - Teachers Financial Planning

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[...]

Should I work part-time?

25/05/2021 Racheal Smith

The summer term in teaching is always challenging. You are coming to the end of your reserves, and the admin assessment is piling up. On the horizon are those enrichment events that require you to dre[...]

Parenting and Pensions

13/05/2021 Racheal Smith

It’s spring! We are all thinking of new life and new beginnings. So, talking about all this maternity and paternity feels hopeful and optimistic. While your teachers’ pension is probably not high [...]

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[...]

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