News - Page 27 of 29 - Teachers Financial Planning

Do you know about pension tax?

10/12/2018 Racheal Smith

Before we begin, you need to know that your teacher pension cannot be drawn down early. Therefore, the only part of your pension that is relevant is the voluntary contributions you have been making [...]

Divorce And Your Pension

10/12/2018 Racheal Smith

From 29th October 2018, there was a suspension of calculations relating to pensions on divorce. We want to start by giving an important disclaimer: this is a time when you should get financial and l[...]

Actuarial Reduction And The Teachers Pension

10/12/2018 Racheal Smith

Actuarial Reduction And The Teachers’ Pension There is something you need to know about actuarial reduction & the Teachers’ Pension. This is the impact on your pension when you decide to [...]

Teachers Pension Lump Sum

14/06/2017 Ged O'Neil Bell

It's about this time of the year, that many teachers who are retiring in the summer will need to make the decision on how they will take benefits from their teachers pension - including the pension l[...]

Teachers Are Working Longer – Evidence Required

08/09/2015 Ged O'Neil Bell

A review is to take place to gather evidence which can be used to examine the impact on teachers of working longer and identify potential mitigating actions. Discussions have taken place as part o[...]

Teachers Pension Transfer Update

26/08/2015 Ged O'Neil Bell

Further legislation preventing the transfer-out of benefits from unfunded DB schemes to DC schemes comes into effect from 7 September. Legislation that prevents the transfer-out of benefits from un[...]

Annual Allowance Changes

12/08/2015 Ged O'Neil Bell

In the 2015 Summer Budget, changes to the annual allowance (the maximum value of pension you can earn in a year without incurring tax penalties) were announced. The key changes will not apply until th[...]

National Insurance Changes

08/07/2015 Ged O'Neil Bell

HMRC will be changing the rate of National Insurance contributions teachers will be paying from April 2016. This is due to the end of contracting-out for defined benefit schemes, including the Teacher[...]

Transfer News: EEA QROPS

03/07/2015 Ged O'Neil Bell

Teachers' Pensions will be writing out to members whose application to discharge their benefits to QROPS schemes was received by Teachers' Pensions on or after 6 April 2015. Recent legislative chan[...]

Changes For Teachers With Additional Contracts

21/05/2015 Ged O'Neil Bell

Changes have been announced for members of the career average arrangement who have teaching contracts in addition to their full-time employment. Previous to the 1st April 2015, full-time teachers w[...]

Transfer Restrictions Update

23/04/2015 Ged O'Neil Bell

From 6 April 2015 the Pension Schemes Act 2015 has placed a restriction on transfers-out of the Teachers Pension Scheme The Pension Schemes Act 2015 has put a restriction on transfers-out from unfu[...]

Lifetime Allowance Update

01/04/2015 Ged O'Neil Bell

The final budget of this Parliament was delivered by the Chancellor of the Exchequer on the 18th of March 2015. The only change targeted at pensions involved the Lifetime Allowance (LTA). The LTA will[...]

Changes To Transfers

27/02/2015 Ged O'Neil Bell

Changes under the Pensions Schemes Bill, to come into force from April 2015, will stop transfers from unfunded public service pension schemes, such as the Teachers’ Pension Scheme (TPS), to pension [...]

Benefit Statements & Contributions

26/02/2015 Ged O'Neil Bell

Annual Benefit Statements (ABS) containing an estimate of teachers’ service and salary details up to 31 March 2014 have started to be distributed to employers. Teachers’ Pensions are required to s[...]

Additional Factors

31/01/2015 Ged O'Neil Bell

Following the 2012 valuation of the Teachers’ Pensions Scheme, Teachers’ Pensions have been issued with new factors to calculate the cost of Additional Pension. Teachers Pensions will implement[...]

Annual Benefit Statements

15/01/2015 Ged O'Neil Bell

Annual Benefit Statements (ABS) will be distributed by Teachers Pensions to employers in February and March. Teachers who are re-employed, in their first two years of teaching or are currently in mixe[...]

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