News - Page 23 of 29 - Teachers Financial Planning

Calculating the Teachers’ Pension Scheme for a deferred member

03/07/2019 Racheal Smith

Calculating the value of your pension The change in pension schemes for teachers has made it complicated. There is the final salary scheme, and there is the career average scheme. If you have bee[...]

Should you be happy with the career average

What is the Career Average teacher’s pension scheme?

25/06/2019 Racheal Smith

All teachers working in state schools in the UK are enrolled in the Teachers’ Pension Scheme. Many teachers who have been working for many years will have been enrolled in the final salary scheme.[...]

FCA: consultation on plans to change mortgage advice rules

24/06/2019 Racheal Smith

If the plans proposed by the FCA are approved, then homeowners could soon enjoy more choice when selecting a mortgage. The FCA is consulting. They are seeking to investigate if the organisation's[...]

Pension Freedoms: an increase in pension withdrawals

23/06/2019 Racheal Smith

According to FCA statistics, the total amount of withdrawals from pensions has risen since April 2015 when the pension freedom laws were passed. An increasing number of people aged 55 or over have b[...]

Inheritance Tax receipts increased

18/06/2019 Racheal Smith

A survey by Canada Life has revealed that UK Taxpayers are set to pay £10 billion a year in Inheritance Tax by 2030. Canada's 2019 IHT Monitor also notes that an increasing number of over-45s are see[...]

Could you support your retirement income by drawing on the equity in y...

17/06/2019 Racheal Smith

SAGE Personal Finance researched retirement and equity in homes. Investigating people's approach to retirement planning, SAGA found that 40% discovered their pension fund was not as big as they had [...]

The Importance of Retirement Saving

31/05/2019 Racheal Smith

The idea that time flies seems like an urban myth when you are young. However, you get to a certain age, and it can feel like you went to bed in January and woke up in May. With what seems like no[...]

Income in retirement levels off

30/05/2019 Racheal Smith

The Department for Work and Pensions report that pensioners are earning less than they did nine to ten years ago. Despite a rising cost of living, retirees received just £304 per week in 2017/18. [...]

Under 35s begin to prepare for life’s milestones

29/05/2019 Racheal Smith

Scottish Widow report that one in four people under the age of 35 would like real-life scenario financial advice. With the burden of a mortgage, the pressures of children, and the niggling thought t[...]

Using a teachers’ pensions calculator

28/05/2019 Racheal Smith

Why do I need a teachers’ pensions calculator? Making decisions about your Teachers’ Pension Scheme can be challenging, so a pensions calculator is essential. You often need to work out how muc[...]

Should I take my pension lump sum?

28/05/2019 Racheal Smith

When you are approaching retirement, you will have lots of decisions to make about your pension scheme. One of these decisions is whether you should take your lump sum or not. What is a tax-free lu[...]

Is a teachers’ pension good?

27/05/2019 Racheal Smith

Some background details If you start with the teachers’ pension scheme today, you will be joining a career average scheme. Basically, this means you will receive a pension worked out as an averag[...]

Are you new to the teachers’ pension scheme?

26/05/2019 Racheal Smith

If you are just starting in the teaching profession, then you will also be new to your pension. The Teachers' Pension Scheme offers support to those starting in the scheme. They call this Pension [...]

Reclaiming overpaid tax

25/05/2019 Racheal Smith

It always feels painful to pay tax in the first place. Imagine if you have paid too much. If you are a PAYE taxpayer or you complete a self-assessment, you could qualify for a tax rebate. In th[...]

Pension dashboard gets the go ahead

24/05/2019 Racheal Smith

The Department for Work and Pensions (DWP) have announced that proposals intended to support developments of a pensions' dashboard now exist. Expectations are that industry models will be released l[...]

Are you being taxed on your state pension?

23/05/2019 Racheal Smith

According to Royal London, there are around half a million people who could be paying tax on their state pension. The mutual insurer goes on to claim that, in 2017, 1.1 million people over 65 were i[...]

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