Teachers Pension

[LucyLoo1972]

Hi,

i knwk there are various calculators for Teachers’ Pensions bht I wondered if anybody can give me a vague idea or a ballpark figure?

My DH will retire shortly as a senior teacher Ona round £70 K. He began as a new starter teacher 25 years ago.

woukd anhbody have any idea of how much his pension is liekly to be per year? Just a rough idea would help.

Thank you all.

It’s so easy just to calculate. You don’t seem to know the exact amount he’s on though.
He can either take a larger lump sum and smaller monthly pension or a smaller lump sum and higher monthly amount.
Is he not sharing the info? Needs to make sure he gives enough notice. They owe me a transitional payment from nearly a year ago. The company managing it has just changed.

He can log in to the portal and find out himself.

Top tip - EVERY teacher should log in (at least) annually and check their record of service has been recorded correctly. I had to argue mine for months and months, even though I was very straightforward and had always worked for the same LA..
I was told by a pensions advisor that 60% of people she spoke to found there were errors in their service record.

No he is not sharing the info. he is completely financially illiterate and we may have to separate so im trying to gauge what the pension may be. its a very complex situation but I had a terribel breakdown and it was partly due to living in the marriage where her responsibility was taken and my breakdwon was so sever I lost my career id trained for so have no income or private pension of my own.

He wont log in to the portal. Doesnt even know what or where the portal is. Is a higher rate tax payer and refuses to look at the benefits of paying more into the pension. I did and do everything financial for us but I cant log into his portal. there is no way he would ever look at it once a year sadly. in 25 years of marriage he has refused to come to a bank meeting or a financial advisor with me. we ma y have to separate ut living in this marriage caused me a huge breakdown so I have no income of my own now.

Beware that when my friend wanted half her husband’s teacher pension she needed to pay an admin fee of £3k! Splitting his teacher pension has been one of her trickiest issues and he has been communicating and compliant. Maybe a solicitor needs to be involved here.

thank you. I am devastated even at the thought of having to separate. Financial issues and a subtle form of control were one of the issues in the marriage that gave me such stress I lost an elite career I had trained for six years for. we never made any pension provision for me because he said wed be fine becasue of his teacher's pension

I’m so sorry to hear that you are in this position it sounds awful. You will need some financial and legal advice as PP has said.
There is some advice on the TP site. Even if he was logged in with an account it will have expired if he’s not logged it every year.
You might be able to work out an estimate from the site.

https://www.teacherspensions.co.uk/members/working-life/life-events/divorce.aspx

There is a FB teachers pensions group you could join which has some very knowledgable members. They may be able to offer you more guidance or, at the very least, there could be someone with a similar work record to your husband and you could work out from there what his income could be. People very often post their prediction panels on screen.

The Facebook group is called Teachers Pensions - Teacher to Teacher UK
David Fountain is the ex teacher responsible for the page and has created an excellent spreadsheet to help you work out what your pension would be and also if you (your DH) took it early. David also has some YouTube video too that are very informative.

It would be hard to work out your DH pension as it's quite a complicated scheme. If you are thinking of separating you would definitely need to use a solicitor to help you with the financial side/pension.

It does vary quite a bit, depending on age and various other factors. You could use this calculator to work out a rough idea https://www.teacherspensions.co.uk/members/calculators/new-estimate-your-final-pension-value.aspx

If you can get H's permission you may be able to log in with his details - his dfe teacher number and NI number will be needed I think.

Dave Fountain on Facebook is amazing https://www.facebook.com/share/1C8xMrgsDo/?mibextid=wwXIfr he also has a website https://dfountain.co.uk

If you divorce you’ll need a CETV from teachers pensions. That can take a year to receive.