Client Portal Independent financial planning advice for teachers

Teachers Logo
  • Home
  • Advice
  • About Us
  • Seminars
  • News
  • Downloads
  • Contact
Email
Home/News/Teachers Pension/Pensions and COVID-19
loading...

Pensions and COVID-19

13/12/2020 Racheal Smith

With the pandemic impacting every part of our lives, it is not surprising if you worry that it is affecting your pension.

It is essential to know from the beginning that your pension is protected by the Government. It is not a pension scheme that gathers value due to investment in the stock market. If you have money invested in another pension scheme that does involve investment risk, the pandemic may have caused some instability in your potential payout. In the Teachers’ Pension Scheme, you do not need to feel concerned in the same way.

Pension Regulator on COVID-19

However, the Pension Regulator is keen to warn pension scheme organisers to focus on critical risks. Two of these concerns are still relevant to the Teachers’ Pension Scheme. First, there is a greater risk of scams that the scheme leaders need to protect members from. Second, there is a need to offer sound advice to pension savers who may be considering forgoing the future for more security in the short term.

Finally, while the Teachers’ Pension Scheme is part of government policy and so not vulnerable to fluctuations in the market, the financial crisis could be a concern. The Government will need to start paying back some of the debt they are accruing now. Consequently, teachers need to consider how they can better secure their future, should the Government be compelled to make decisions that compromise a date or retirement or the benefits a member enjoys.

Seek advice on the impact of COVID-19

If you are worried about your finances in this time of COVID-19, then you should approach an independent financial adviser who can answer your questions.

The content in this article was correct on 16th November 2020. You should not rely on this article to make important financial decisions. Teachers Financial Planning offers advice on your Teachers’ Pension Scheme. Please use the contact form below to arrange an informal chat with an advisor and see how we can help you.

Share this article:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
Posted under: Teachers Pension

Tagged in: Pensions



Make an enquiry

Please complete and send the short contact form below and we will come back to you as soon as possible.

    First Name

    Telephone

    Email

    Enter code captcha

    Message
    ifa logo
    Apple App Store Google Play Store
    • Site Map
    • Cookies
    • Legal
    • Privacy
    • Careers
    • Facebook
    • Google
    • Twitter
    • LinkedIn

    Teachers Financial Planning Limited is an appointed representative of LJ Financial Planning Limited which is authorised and regulated by the Financial Conduct Authority. Financial Services Authority firm registration number 552276. Content on this website is provided for information purposes only and should not be considered advice. The information contained within this website is subject to the United Kingdom regulatory regime and is therefore primarily targeted to consumers in the United Kingdom. Registered in England & Wales 07612896. Registered Office: St James Business Centre, Wilderspool Causeway, Warrington, WA4 6PS. Calls to 08452 69 69 90 cost 5p [or 5p per minute] plus your phone company's access charge.

    © 2011-2020 Teachers Financial Planning Limited.
    Website designed and developed by Carpe Diem
    This website uses cookies to improve performance: Find out more.