News - Page 20 of 29 - Teachers Financial Planning

What is Normal Age Retirement?

07/01/2020 Racheal Smith

Your Normal Pension Age is the age when you should apply for your full benefits from the scheme. You do not have to apply at this age, you can apply early, and you can delay your claim. If you se[...]

What is early retirement?

05/01/2020 Racheal Smith

To retire early means to take your benefits before you reach your Normal Pension Age (NPA). If you look at your benefit statement on My Pension Online, you will find your NPA. It will likely be so[...]

Questions to ask before retiring

03/01/2020 Racheal Smith

It might be time to decide in the new year to retire. You have given it a lot of thought and you know this is the moment to transition into a more relaxed life that is focused on your hopes for the [...]

Are you approaching retirement?

01/01/2020 Racheal Smith

You may be closing in on 55, and you can feel you are getting too tired and too cranky to continue in the classroom. Even though you could qualify for early retirement the decision to retire is a ch[...]

What happens if I leave teaching?

09/12/2019 Racheal Smith

If you leave teaching, and what is known as pensionable service, you will become a Deferred Member. You may be able to apply for a repayment of your contributions or transfer- out. Alternatively, [...]

What happens to my pension if I need family leave?

07/12/2019 Racheal Smith

You are living through exciting times. You have or are about to become a new mum or dad. The great news is that if you are receiving statutory maternity or paternity leave, your pensionable servic[...]

Understanding your benefit statement

05/12/2019 Racheal Smith

To qualify for benefits, you need to have two or more years of pensionable service. Once you have qualified for benefits, you will receive a Benefit Statement each year. Alternatively, you will be[...]

What happens if I work more than one job?

03/12/2019 Racheal Smith

For some members, there are opportunities available that mean they work more than full-time. This member will have multiple employments. The impact of this additional employment is different depen[...]

What is the impact of working part-time on your pension?

02/12/2019 Racheal Smith

You may be reaching that point in your career when you want to work less. You can afford to take on fewer hours and work part-time in your school. However, although this might be financially viabl[...]

A summary of the different arrangements for serving teachers

30/11/2019 Racheal Smith

You would be forgiven for feeling confused about your teachers’ pension. The scheme has undergone lots of rapid changes over the past few years. Recent court rulings have made this even more mud[...]

You are nearly one in a million

09/11/2019 Racheal Smith

You could be part of the nearly one million teachers who have registered with My Pension Online (MPO) and are benefiting from its features. We know there are constant worries about pension poverty and[...]

McCloud: what this might mean

07/11/2019 Racheal Smith

In June there was a ruling in the Supreme Court that could impact on public service pensions. The court refused Government permission to reverse the Court of Appeal’s 2018 judgement in the McCloud[...]

Who is Optima Health?

05/11/2019 Racheal Smith

When you seek retirement through ill-health, you will be expected to attend an Occupational Health appointment. Optima Health has been appointed by the Department for Education (DfE) to replace OH A[...]

Have an urgent Pension question?

04/11/2019 Racheal Smith

Sometimes some questions are pressing, and you do not have time to search through FAQs. You are aware that you can phone the Teachers’ Pension Scheme or maybe even contact an independent advisor.�[...]

Do you know how your Teachers’ Pension has changed?

03/11/2019 Racheal Smith

The Teachers’ Pensions etc. (Amendment) Regulations 2019 (2019/1134) passed through Parliament on 17th July, and most of the effects of this came into action on September 1st 2019. The amendments [...]

Consultation on the Teachers’ Pension Scheme

01/11/2019 Racheal Smith

The consultation into the Teachers’ Pension Scheme closes on November 3rd, 2019. If you can, and you are interested, you should express your views on the scheme that runs your pension. What is th[...]

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