to start a Teachers Pension at 42?

[mumofoneofeach75]

Hoping for some help and advice. I am 42 and have been teaching for 11 years. I was just 2 days a week initially and paid into the pension. After a bad marriage break up, I had to raise my 3 children alone and went full time. I couldn't afford the pension and stopped paying into it. I also used the money I had already paid in to help with childcare costs and moving. All 3 children are now in school and I am working full time. Is it still worth me re-entering the pension scheme now? I have seen some advice that says I might have too small a pension after just 10-15 years and I might be penalised for pension credit (I think). Also, not sure how much longer I can last in teaching with the way things are..........

[mycatsloveeachother]

Yes, do.

My Mum didn't start teaching until a similar age, and she sadly died at 52 but her contributions meant my brother and I were entitled to a small amount (£150 p/m) as long as we remained in full time education.

[mumofoneofeach75]

thank you - it's good to know it'll still be worth it, especially as I'm going to struggle to make the contributions. Sorry about you mother....

[Iggi999]

AIBU is a strange place to ask this!
I'd contact your pensions people (who could do some kind of forecast) or your union who will offer financial advice.
I suspect it will be advisable to do this, unless you're planning to leave in a year or two.

[Lindy2]

You have the potential for 23 years + of pension saving. I'd say that gives you the potential to build up a reasonable benefit. I think anything you can do yourself is better than relying on completely unknown future state benefits.