Teacher pension... should I opt out?

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I've read the absolutely shocking reviews of the TPS and now feel very worried about the money they are supposedly holding for me.

I understand the issues are with the poor communication and delays in sending paperwork.

Are they actually giving out pension money to teachers who have retired, or are they just holding the money? I've lost trust in them.

Don't opt out.
Being in the scheme maybe the best financial decision you will ever make.

Try finding a better pension.

Are you really a teacher paying into the teachers pension? I have just retired and received my lump sum and monthly pension - without this I couldn't retire. I know it isn't as good as when I signed up but you would be poorly advised to opt out.

It’s a fantastic pension. Opting out would be a huge mistake.

Do not opt out.

Communication isn't great but it's the best pension available to teachers.

Join a fb group with teacher pension advice and knowledgeable admin

Don’t opt out

Have any of you read the absolutely appalling reviews on trust pilot about this company?? It's a disgrace that people cannot get through to them and queries are ignored for weeks and weeks. People are saying they retired but not received their pension money months later...
Posters on the 'divorce and separation' topic are saying how when they are requesting pension info for their divorce paperwork, they are waiting months and months...

Yes but are retired teachers actually receiving their pension?

Yes I'm a teaching teaching. What a silly question.

Yes, of course.
There have been issues with making it happen and making sure it’s correct but once it’s sorted it’s still the best pension you’re going to get.
Have you actually looked at alternatives and what they offer??

No I've just scared myself by reading the reviews. I've got a divorce looming.

This is also the case for the nhs pensions. Not everyone but for some, they seem to make errors when giving final figures and then requesting payment back of lump sums.
ive a few years left until I retire and I'm still paying in as the percentage going in from work is more than I'd get with any other pension

No offence- but you don't understand pensions at all if you think a speedy response is a key service requirement. The teachers pension is one of the most generous and secure systems out there. No teacher is not getting what they are owed. Opting out in a fit of pique would be one of the worst financial decisions you could make.

I’m retired and have been getting my teachers pension for 12 years.

I guess my question is more relevant for people just retiring now.

But if people are having to get the ombudsman involved then surely something is going wrong.
Someone applied for their statement for their divorce last November and is still waiting.

Well I suppose you could retire on half the amount your teachers pension would give you if you think that would serve them right for poor admin.

Great pension and crappy comms or poverty stricken old age with plenty of letters (maybe burn them to keep warm?) and someone on the end of a phone. Difficult isn't it....

Lots of defined benefit schemes take a long time to reply to queries. It's complicated. It doesn't mean that what you have contracted to receive is not safe

And given that you're already a member how is opting out now going to help get your statement for your divorce?

Every pension scheme has some issues, the rules keep changing and a small number of people in all will have problems. I think the vast vast majority of people in the teachers pension scheme get what they are entitled to, which is a substantial benefit relative to many other schemes.

Thank you.

Don't opt out.

Start compiling divorce forms now and ask TPS.

Dear god, no. No. And no again.

Thank god you asked here and didn't just do it.

I'm mean, Jesus.

Your pension remains the same whether they reply to you immediately or not.
There have been problems, a friend has recently had a difficult few months getting it sorted but it is sorted and all in order and she is being paid after retiring recently.

Do not drop out. I turned 60 this year e and got a lump sum and monthly payments. I work freelance so still earn some money too.