A 5% pay rise versus double-digit inflation…what is best for your pension?
Is your final salary pension about to fall over a cliff and lose some of its value?
The scheme end on 31 March 2022 but continues to use salaries from the last 10 years and those into the future. Your pension can go down if you are not careful
Why you should NOT start your pension on the very first day you can…unless your birthday matches that day…
60+ and still teaching?
The end of the final salary scheme on 1 April 2022 presents you with an opportunity to take your final salary pension, continue working AND get paid more.
“Golf cake” by Eldriva is licensed under CC BY-ND 2.0. To view a copy of this license, visit https://creativecommons.org/licenses/by-nd/2.0/?ref=openverse&atype=rich
Or is it…
The final salary scheme can no longer be added to after March 2022 but that doesn’t mean the end…your future salaries will still be used in working out the pension – so make sure you know how to get the most out of that!
When can I get my hands on the pension?
In this video I look at the confusion surrounding the changes to the state pension age and the minimum ages that you can access your teachers’ pension
The start of the legislation needed to implement the remedy to the age discrimination caused by the transition from Final Salary to Career Average pension schemes.
If you are over 60 and haven’t already started taking your pension you would suffer from abatement if you took it all. However, taking phased retirement benefits does not lead to abatement.
You could work a day less and get paid more than you are now.
The Pension Pickpocket
If you retire at your Normal Pension Age and carry on, or return to, working then your pension may be abated (cut!).
Here I explain why and how to avoid it.