Opting back in to Teachers' Pension

[goingmadinthecountry]

Hello all.

Just turned 50 - back in teaching 0.8 after many many years doing other stuff including bring up 4 children. I opted out the first time I left in 1988 or so to travel. Am now more settled. Anyone bought back in and did you buy extra years? Am somewhat stuffed tax wise at the moment due to family business so bumping up my pension seems wise - private pension has not performed well.

Am guessing it's well worth it??u

You can re-enter the scheme. You can no longer buy extra years but you can by extra benefits ie 250, 500 or 1000 or so per year. I am doing this, other teachers have not been happy with the Avcs.

As you have had a break of more than 5 years you will have mixed service the earlier portion will have a pension age of sixty but the new portion will be 65 as pension rules have changed quite a bit.

Check out the tps website