Short Service Annuity

With the call going out to retired teachers to return to the classroom many have concerns about whether contributing to the pension scheme will give them value for money or not – particularly if they are going to be teaching for less than 1 year.

If they teach for more than a year then the career average scheme, that anyone who has already started taking their pension would be in on their return to teaching, normally pays back their contributions in under 10 years.

The pay back period for the short service annuity for anyone under 75 exceeds 13. So definitely not as good value as the actual pension.

https://docs.google.com/spreadsheets/d/1a-EmG1ByyhqvZG355CaJDCvwRzwtwhn9e20IRUUY14o/edit?usp=sharing

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