A 5% pay rise versus double-digit inflation…what is best for your pension?
Pay Rise 2022 – Good Or Bad for the Pension?
The fall of the final salary
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
Pick the (right) day
Why you should NOT start your pension on the very first day you can…unless your birthday matches that day…
Final Salary – The End?
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!
How old?
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
Public Service Pensions and Judicial Offices Bill
https://bills.parliament.uk/bills/3032
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.
Over 60 Work less, get paid more!
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.
State Pension – Low Blow
Contracted Out
Up until 2016 Teachers were ‘contracted out’ of the additional state pension and so many do NOT qualify for the full NEW state pension…I explain.
Abatement – Limit on Pension
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.
Pay Freeze = Pension Time Bomb
Retiring next year, or in 30 years – the pay freeze could bomb your pension.
Fix it for £1