News - Page 17 of 30 - Teachers Financial Planning

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[...]

Power of Attorney Changes

10/01/2021 Racheal Smith

Sometimes life takes a turn, and you cannot be responsible for your personal financial concerns anymore. At these times, you may choose to put a Lasting Power of Attorney (LPA) in place, giving the re[...]

Why save into a pension?

27/12/2020 Racheal Smith

When money is tight, and the present seems so complicated and uncertain, it feels impossible to contemplate paying into a pension. Not only is the Teacher Pensions’ Scheme a generous fund that offer[...]

The advantages of your Teachers’ Pension Scheme

20/12/2020 Racheal Smith

You have decided you need to start saving for your retirement. The fact you could be living on much less than £200 a week on a state pension has sunk in. You need to decide how you are going to do th[...]

Pensions and COVID-19

13/12/2020 Racheal Smith

With the pandemic impacting every part of our lives, it is not surprising if you worry that it is affecting your pension. It is essential to know from the beginning that your pension is protected b[...]

5 Reasons we are proud of teachers

07/12/2020 Racheal Smith

It has been a challenging year, and there have been many key worker positions celebrated. Expectations placed on teachers during this time have been intense. First, there was the requirement to adapt [...]

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[...]

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