Changes to the Teachers’ Pension Scheme (TPS), which will come in to effect from the 1st April 2015, will affect pensionable earnings from full and part-time work. All the service of members who work on a full- and part-time basis will be pensionable, provided they are in the career average arrangement. Members who have protection and remain in the final salary arrangements will not be affected, only their full-time service is pensionable in the TPS.
Members who have accrued pensionable part-time service prior to the 1st of April 2015 in a local government scheme can apply to have that service transferred to the TPS. Any such applications should be made within 1 year of the 1st of April 2015.
It is also possible for members to opt-out of having their part-time service treated as pensionable in the TPS, so only their full-time service is pensionable by the Scheme.
The content in this article was correct on 19/12/2014. You should not rely on this article to make important financial decisions. Please use the contact form below to arrange an informal chat with an adviser and see how we can help you.