Why do I need a teachers’ pensions calculator?
Making decisions about your Teachers’ Pension Scheme can be challenging, so a pensions calculator is essential. You often need to work out how much you will contribute; or what you will receive if you retire early; or how much your lump sum will be. Teachers’ Pensions calculators are an invaluable tool in your retirement planning. You can look today and easily set your goals for your future.
Be aware, before you look, the results are illustrative. Your final and definitive calculations will only be available once you have applied for retirement.
The teachers’ pensions calculators
The Teachers’ Pension Scheme offers multiple calculators. These include:
– Early Retirement Calculator, which helps those in the Final Salary Arrangements to estimate adjusted pension benefits
– Annual Allowance Calculator, which aims to assess your yearly allowance based on your specific circumstances.
– Earnings calculator, which aims to help you understand how much returning to teaching, and starting to earn again, will impact on your pension entitlement.
– Lump sum calculator, which aims to help those in the Final Salary Arrangement understand how much the maximum lump sum will be.
– Final value calculator, which helps you to work out the value of your pension on retirement
– Flexibility calculator, which enables you to explore different options that might boost your pension.
If you join MPO (My Pension Online), it is also possible to use the online modellers to work out estimates based on your service history.
The content in this article was correct on 19th May 2019. You should not rely on this article to make important financial decisions. Teachers Financial Planning offers advice on the Teachers’ Pension Scheme. Please use the contact form below to arrange an informal chat with an advisor and see how we can help you.