Teachers Pension Scheme Archives - Teachers Financial Planning

Phased withdrawal

07/10/2021 Racheal Smith

In August, the participation rules of the Teacher Pension Scheme were changed. The change has been brought in to allow for schools' phased withdrawal from the scheme's independent sector. Without this[...]

Yearning for the classroom?

07/09/2021 Racheal Smith

September is here, and you feel that itchy sensation in the classroom making that difference you once did. You may have left teaching a while ago, but teaching refuses to leave you, and each autumn te[...]

New Starter: Qualifying for benefits

26/08/2021 Racheal Smith

There is a phrase you will come across a lot when reading about your pension; this is your pensionable service. Sometimes, pensionable service is also known as eligible service and is the time in empl[...]

New Starter: Important Dates

12/08/2021 Racheal Smith

You might think that starting your career is frantic enough, without having to think about your pension too. In fact, your pension feels a good 40 years or more away, and there are more pressing prior[...]

New Starter: Basic Pension Information

05/08/2021 Racheal Smith

You are about to enter a career working with young people, helping them fulfil the potential each one offers. Teaching is a vocation imbued with the benefits of fulfilment and a sense you are making a[...]

Making the most of your pension

08/06/2021 Racheal Smith

It is easy to perceive that your pension contributions are another additional expense. The amount coming out of your salary feels a lot, but we all appreciate that a pension in retirement is a necessa[...]

Life After COVID: Leaving teaching

29/04/2021 Racheal Smith

Who would have been a teacher during the pandemic? Living on the frontline Most outsiders thought the teaching profession had it easy because the schools were closed. However, they weren’t really.[...]

Life After COVID: securing financial peace of mind

22/04/2021 Racheal Smith

The past year has been filled with unbearable uncertainty. While, as a teacher, your salary continued to be paid, your partner and loved ones may have lost work or been furloughed. Even as a teacher, [...]

More on retirement planning

13/04/2021 Racheal Smith

As you can only submit your form four months before you retire, April is a popular month for teachers to begin thinking about the future. If you are over 55, you could make the leap to leave teaching [...]

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[...]

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[...]

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