News - Page 17 of 29 - Teachers Financial Planning

Maximum Extra Pension

26/11/2020 Racheal Smith

Have you considered adding more money to your pension? The Teachers’ Pension Schemes offers Pension Flexibilities that allow you to increase your benefits. Why would you increase your contributions[...]

Young teachers: how much should you be paying towards your pension?

19/11/2020 Racheal Smith

You may have just qualified as a teacher, maybe as young as 22, and you are aware that you have been enrolled in a pension. You might be one of the lucky ones who doesn’t notice the lump sum leaving[...]

Additional Earnings with the National Tutoring Programme?

12/11/2020 Racheal Smith

Suppose you are a retired teacher looking to make some extra money. In that case, the National Tutoring Programme could offer an excellent opportunity. Here we look at what this programme entails and [...]

The Government’s Catch Up Scheme

05/11/2020 Racheal Smith

Are you a retired teacher who has taken up a role within the National Tutoring Programme? This is the programme that hopes to help students catch up after the lockdown. If you have chosen to return to[...]

What is the ‘Triple Lock’ on state pensions?

29/10/2020 Racheal Smith

When planning retirement, the amount a teacher gets from the state pension is an integral part of this process. In 2010, the Conservative and Liberal Democrat coalition brought in a “triple lock�[...]

What is the pension freedoms age?

22/10/2020 Racheal Smith

Everyone is looking to the changes that are needed to get the British economy back on track. Money needs to be saved everywhere and anywhere. To be fair, the ageing population has long since been a co[...]

When can I collect my Teachers’ pension?

15/10/2020 Racheal Smith

With all that is happening in schools, it is understandable that you might be thinking of retiring. When you reach a certain length of service, having to renew the way you work makes your job too chal[...]

The Teachers’ Pension Scheme and the Independent Sector

08/10/2020 Racheal Smith

For schools, the Teachers’ Pension Scheme (TPS) became less attractive when the contributions for members went from 16.4% moved to 23.68% in England and Wales. The changes, which came into effect on[...]

Could you be a victim of the gender pension gap?

01/10/2020 Racheal Smith

According to the latest data, a single mother retiring now averages a pension fund of £18300. A man retiring will average a pension fund of £156,000. This is the gender pension gap in its starkest. [...]

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[...]

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