Teacher pension

[russetbella1000]

Hi
I have a deferred membership in the teacher's pension. Not much but something like 5 years service with £4000 pension projection and £9000 lump sum when I look at the statement.

I don't pay into it atm as not teaching but just wondered what my options might be as in my current non-teaching role I pay into a stakeholder pension. Do I just keep both?

Also I doubt I'll ever teach again can I just keep the money there and then claim it when applicable. Is there anything I need to do to ensure I don't lose any benefits?

I'm not really counting on pensions for income tbh but obviously don't want to lose out on maximising contributions so far invested...

I'd suggest you consult an independent financial adviser as they'll have a better idea. But, from what I've heard from IFAs, you generally leave the public sector pension schemes alone as you'll struggle to get better benefits elsewhere based on the transfer value you'll get on leaving the public sector scheme which are paid into a private scheme. Basically the transfer values don't translate into similar benefits outside a public sector scheme.

Thank you!
Yes, I'm happy to leave it completely but just checking whether or not I actively have to do anything to keep it live so to speak. I'm more than happy to see what happens at 65 etc but just don't want to lose anything and I suppose it feels a bit inefficient having two pensions but I guess it's just like 2 bank accounts really with different interest rates....

You can just leave it l. A good source of info is on money saving expert - go into the forums bit and the on to the Pensions/Annuities thread. Lots of experts on there.

Thank you!

I used to teach and I’m a SAHM. I’m just keeping my pension pot as is.

Are you registered with Teachers’ Pensions? They email updates every not and again.