What's the pension impact of going down to 0.8?

[MsGoodenough]

I really want to go down to 0.8 but really confused by the pension implications. I obviously get that there'll be less going in the pott each month, but will I also be penalised through my years of service taking longer to accrue? I started teaching at 32 and am now 45, had 3 years at 0.8 when DD was small, so have done 10 yes full time and 3 years 0.8 so far. I've done the buy back and planning to retire at 65. Can anyone explain it to me in simple terms?

Are you on Facebook? You would get more answers from the Teacher Pensions - Teacher to Teacher (U.K.) group.

Loads of teachers asking similar questions.

I went to 0.8 in December,I'm 55 and have 28 years fulltime in the scheme. I believe it won't greatly affect my pension as the majority of mine is in the Final Salary scheme. I'll be retiring soon anyway.

Hope you get some answers.

If you register on this forum:

https://staffroom.boards.net/

There is a Pension section. A poster called Diddy Dave will be able to help you.

Other than that make an appointment with Wesleyan give expert advice:

https://www.wesleyan.co.uk/campaigns/teachers-retirement-planning?gad_source=1&gclid=CjwKCAjwrvyxBhAbEiwAEg_Kgg3MA8Oslx167OAg2dGV7EndKbe_QI1xlfSJxLVphftnh_uAuLXC9hoCXXQQAvD_BwE

Diddydave (Dave Fountain) also runs the Facebook group I mentioned too. He's helped me with projected pension forecasts.

He also has loads of YouTube videos too.