The Department of Education has announced changes to tiered contributions. Contributions increases will apply to members of the Teachers’ Pension Scheme (TPS) in the financial years 2014/15. The Department’s response to the consultation can be found here.
If you are a member of the TPS, you can find out what this means for you by viewing their member factsheet and using their calculator to calculate your monthly contributions before and after tax. These tools are important to understand the value of your pension and the full range of benefits offered by the TPS.
The content in this article was correct on 16/06/2014. 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.