Teachers Pension Scheme Archives - Teachers Financial Planning

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[...]

Why should I worry about an Index?

24/08/2020 Racheal Smith

Whenever you read about teachers' pensions – or any pensions come to that – you will find a lot of reference to indexes. It might be that they say your pension is index-linked or that you will rec[...]

Asian girl taught by foreign languages teacher

Independent Schools and the Teachers’ Pension

02/07/2020 Racheal Smith

Independent Schools are not automatically enrolled in the Teachers’ Pension Scheme. The school you work for might opt to join the scheme, as part of their pension requirement. Equally, they may opt [...]

Thinking of a future in a different country?

31/05/2020 Racheal Smith

When all the confusion and chaos in the world has passed, you may think it is time to grab new opportunities. Living and working abroad is an exciting adventure. However, you may worry about what it[...]

Are you thinking of moving on and out of teaching?

24/05/2020 Racheal Smith

When we experience a period of disruption and worry, it is not unusual to consider revamping your life. You have likely had an extended time out of the hustle and bustle of a school, and you have beco[...]

Death in-service – when the worst happens

22/05/2020 Racheal Smith

No-one likes to consider the tragedy of a life cut short. However, we have all been made of our mortality, and it is reasonable to consider what happens should the worst occur. There are benefits atta[...]

What happens if you become ill?

21/05/2020 Racheal Smith

The current focus on our health can make us worried about our future—the presence of a pandemic and new insecurity about health and work. You may have already thought about what would happen should [...]

The impact of COVID-19 on your Teachers’ Pension

20/05/2020 Racheal Smith

These are strange times. Nothing that we thought we knew stands right now. This can lead to significant uncertainty and concern about the future. The current changes to employment can have an impact o[...]

Is the Teacher Pension Scheme worth it?

15/04/2020 Racheal Smith

If you are wondering whether to keep contributing to the pension scheme, you should pose the question: is it worth it? Here we review the Teacher Pension Scheme and its potential benefits. What is th[...]

More on the McCloud judgement

07/04/2020 Racheal Smith

On the 15th July 2019, the Chief Secretary to the Treasure announced that people should be protected in their desire to move pensions from one scheme to another. The transitional protection had prev[...]

Man in jeans with his pockets turned inside out

New to teaching and feeling poor?

05/04/2020 Racheal Smith

When you first start teaching, your salary will not overwhelm you with funds. You may feel a little strapped. Consequently, you may be looking for ways to increase the cash flow, just in the short[...]

Transferring pension benefits between schemes

03/04/2020 Racheal Smith

In a time when a job for life is no longer expected, there will likely come a time when you choose a different career. Lasting 40 years or more in the classroom is an exhausting thought. At some p[...]

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