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Original poster

How much should DM be receiving each month from teacher's pension after 23 years service?

66 replies

BaffledOnceAgain · 20/11/2023 23:25

My mum took out her teacher's pension when she had children. However, she then returned to the profession and worked a further 23 years full-time. I know it's not a clearcut answer, but for a general class teacher who retired in 2011 after 23 years of teaching, can anyone tell me roughly what she should receive each week or month please from the TPS? She is struggling for money and I'm trying to help, but she's not keen to burden me with it. She's decided broccoli is a luxury she can't buy every week!! She should also get some State pension I presume (but not a full one)?

OP posts:
user1497207191 · 21/11/2023 10:22

Just been doing a tax return for a client. She is 76 and gets £23k teachers pension and £8.5k state pension. That was for 25 years of service. BUT she worked full time. Obviously, if would be pro-rata downwards for part time working, so probably only £11.5k p.a. for someone who only worked 0.5 full time hours.

Notamum12345577 · 21/11/2023 18:28

RosesAndHellebores · 21/11/2023 10:06

@Notamum12345577 that estimate included the state pension and was based on full-time for 23 years. The occupational pension paid on retirement will have been subject to index linked increases.

Pension calculations are complex but in today's money, a qualified teacher with, conservatively £37,000pa with 23 years' contributions should be on a pension of approximately £14,500 plus £9800 state pension - a bit under my initial estimate but would not attract much tax and should be enough to live on and quite well for one person with no rent or mortgage.

There will be more to this than meets the eye. You can't spend more than comes in so perhaps the lady needs to contact an animal rescue and cut down smoking.

Apologies, I didn’t realise you had included the state pension in that figure

Original poster
BaffledOnceAgain · 23/11/2023 00:38

mumda · 21/11/2023 09:04

The equity thing needs looking at. Has she had loads of money and spent it, and having run out is now economising.

Yes.

OP posts:
Original poster
BaffledOnceAgain · 23/11/2023 00:44

Thank you all.

I made a mistake. She retired at 60 in 2006 after 18 years of teaching full time. She doesn't want to share info with me it seems, despite me offering to do a full financial review, like I do for myself. I'm not just being nosy - I was hoping to try and work out if she might be eligible for any benefits with an estimate of her incomings, even though I know it wouldn't be accurate. I now know she gets £697 per month for the State pension (as it was discussed today after Jeremy's promises came out😔).

OP posts:
Original poster
BaffledOnceAgain · 23/11/2023 00:47

cheezncrackers · 21/11/2023 09:08

This is a 'how long is a piece of string question' OP - you need your DM to share the exact figures with you. Does she still have paper statements? If so, that might make your job easier, but if not you'll need her login details, her plan numbers, her NI number, passwords, etc. Once you have those things you can go online and figure out what she's getting and what else she may be entitled to, such as pension credit, if she is on a low income. Any pension scheme she is enrolled with will have a website which will show you her total pot and the annual amount it yields, or perhaps she bought an annuity? As for any additional benefits she is due, check the this website https://www.entitledto.co.uk/

You need to check her outgoings too - maybe there are savings that can be made on bills, direct debits and standing orders. These are things that should be reviewed regularly and more cost-effective solutions sought, if possible. People who have stayed with the same provider for years for their phone, gas, electricity, insurance, etc, can really be ripped off by just clicking the 'auto-renew' button without checking to see that there isn't a better deal. The https://www.moneysavingexpert.com/ website is really helpful if you're searching for better deals on goods and services.

Thank you. This is what I want to do but she has decided she doesn't want help. I just thought if I ran the benefit checker with rough figures, it might encourage her to let me help.

OP posts:
BarbaraofSeville · 23/11/2023 04:56

If she owns her own home, has a teacher pension as well as the state pension and doesn't have health/mobility issues that would qualify her for attendance allowance then I don't think she would be entitled to benefits, save for the winter fuel allowance and any other 'cost of living' help that's been given to all pensioners.

I don't know the answer here. She says she doesn't want any help but presumably she's complaining to you about being short of money?

What does she think the solution is? Does she want you to give her money? That would be unwise if she's a spendthrift who's not made a basic attempt to manage her finances responsibly.

Whether she does it herself, you help her or she gets advice from CAB, Age UK etc, the first step is a review of incomings including a benefit check and outgoings including looking to see if anything can be reduced or eliminated and without that, she can't really move on with solving her financial difficulties.

So you probably need to say this to her if she's complaining about not being able to afford broccoli? 'Mum, you need to do a benefit check, have you shopped around for your insurance recently' that sort of thing.

What's her housing situation and is downsizing a possibility so her council tax and utilities are lower even if there's not a huge amount of equity released?

headlicerus · 10/02/2024 14:49

If she was a former union member (most teachers are/were) she might still be entitled to help from the union's Benevolence fund. They will check her outgoings/incomings and advise her where to go and who to contact if things don't look right. Very non-judgemental and caring. She may also be entitled to a small gift of money. I only know about NASUWT but I expect they all do the same. Remind her she's paid into it and they are available to support her.

luckylavender · 10/02/2024 17:59

Lovingangelsinstead · 21/11/2023 00:02

First thing you need to do is find out if she was actually part of the TPS and paying into it. You said she took it out? Did she rejoin? If so she should have a decent pension after 23 years. You can phone them up, they are really helpful.

This almost made me laugh. My mother was a teacher, she died in December. Of all the things I have had to deal with the Teacher's Pension is by far the most irritating. Impossible to get hold of by phone. I've tried very many times.

Lovingangelsinstead · 11/02/2024 14:52

@luckylavender oh I've always heard they are very helpful on the phone! I've never needed to call them myself though.

Notellinganyone · 19/02/2024 18:58

I’m currently on 27 years and it’s about 14k. However my average salary is about 45 k so suspect some posters are being generous in their estimates l TPS is a career average scheme and to get a decent whack you need longer service.

JustOneLife · 21/02/2024 20:30

I believe all teachers pension payslips are available online on the TP website, along with their record of service and contributions.
She would have to register on to the 'My Pension Online' section.

https://www.teacherspensions.co.uk/members/member-hub.aspx

Member Hub | Teachers' Pensions

Our site has been organised around our members. You can select what kind of member you are from the options below.

https://www.teacherspensions.co.uk/members/member-hub.aspx

Original poster
BaffledOnceAgain · 22/02/2024 07:49

JustOneLife · 21/02/2024 20:30

I believe all teachers pension payslips are available online on the TP website, along with their record of service and contributions.
She would have to register on to the 'My Pension Online' section.

https://www.teacherspensions.co.uk/members/member-hub.aspx

Thanks. She doesn't want to give me the figures. I'm just trying to get some idea so I can work out if she is entitled to any extra support because she is struggling financially. She's not easy to help!!

OP posts:
Original poster
BaffledOnceAgain · 22/02/2024 07:53

ruby1957 · 21/11/2023 07:58

She is the same age as me - back then women needed 39 years and men 44 years for the full pension. The 30 years was a blip (not retrospective) before it became 35 years!

Show quote history

Thank you for clarifying this.

OP posts:
notknowledgeable · 22/02/2024 07:55

RosesAndHellebores · 20/11/2023 23:31

Have you asked her?

Are her outgoings high?

I'm not sure anyone can tell you without knowing her actual earnings when she retired. Does she have an OAP?

It wouldn't be unreasonable to assume she probably has at least £27 to £35k pa coming in.

I would say well under half of that -maybe 8k? 9K?

TheAbsurd · 22/02/2024 09:15

I agree some estimates you have been given are very high. I would also say £8 or £9k based on 18 years full time. I have compared it to what I get.

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