Teachers looking to retire....

[BG2015]

There is a great set of YouTube videos (more being added weekly) by an ex teacher called Dave Fountain. He was Diddydave on the TES community/retirement board.

He offers brilliant, practical advice about all manner of retirement issues from retiring early, tax and the McCloud judgement.

Thanks

Thanks @BG2015, I only just found out that the TES discussion forum has vanished!

added link as it took me a bit of searching to find it
www.youtube.com/channel/UCOdIEXubpfIRkFvPZ57KITQ

Thank you for this, BG2015, and BookWorm45 for the link.

I have a UK teacher's pension and also follow items on Australian Superannuation (work pensions). What comes up time after time is pensioners' perceptions of poverty, many dying with the bulk of their pension unspent. The video Dave Fountain's site on poor pensioners while, UK-based, had many parallels with Australia.

The state pension here is means-tested, so we're talking about pensioners with too much money to get state assistance, and still they feel poor. Who is to blame? The Superannuation companies who consistently inflate the amount need to be saved in a pension for retirement, stoking fear, while keeping them in readies.

Gits.

I can't believe some of the figures that people say they will need in retirement! £30k a year!!

I reckon I will need half of that. My yearly bills will be about £7-8k and then everything else is for hobbies, holidays etc

I'm 52 next week and once my mortgage is paid in 6 years (sooner if I start overpayments) I'm leaving teaching! The end is in sight.

I'm going to travel, learn to play the piano, read, walk, do jigsaws, hopefully care for some grandchildren and go for leisurely lunches with friends.

Thanks so much for those links @BG2015
lots to think about . I hope nobody else had the experience I had of finding big holes in service when I definitely was working . It was a bit of a nightmare to sort out especially as some of the payroll providers no longer existed . I was very glad I had most of my paper payslips even though I never got the hang of opening them without shredding them.

A few years ago my HT began the seps to retirement- she realised there were discrepancies in her service history e.g it said she was part time when she was full time, big chunks missing etc

So a few of us also started looking into our history and found the same. It was a nightmare to get it sorted- luckily mine was quite easy.

Took me two years to resolve my discrepancies. I keep my payslips etc. The problem is that everything is outsourced to companies who are meant to be 'experts'.

So one day I just refused to leave HR office until it was sorted. HR was on my side as we battled with a jobsworth over the phone. I left when an email came through to myself and HR showing the corrections. I now check TPS every couple of months to make sure everything is correct.