Pension Advice

[Cannedheat1999]

I am incredibly ignorant about my pension...and I will get on to it, but I need some advice before I make a decision about a job offer. I have always worked in the state sector, but I am considering a job in an independent school. They don't pay into the TPS but will match the contribution in their own scheme. What does this mean for me? I have no idea how this will affect what my retirement will look like. I have 20 years service in the TPS and probably another 10-15 before I take retirement.

Are you on the Facebook group Teacher Pension- Teacher to Teacher U.K., they will be able to answer your question.

I do know that the TPS still remains a fairly good pension.

Search for Dave Fountain/Diddy Dave. He's a teacher pension guru and a very helpful chap.

David Fountain runs the facebook group I mentioned above.

It's because of him my pension will be 10% more because I opted out for a month. I'm going to retire next July

@BG2015 was it easy to opt out and in for a month? How many days before opting in did it happen? I'm worried it will roll on a long time and you don't get the death benefit do you in the month you opt out?

I opted out in March 2020, possibly the worst time in history 🙈 but opted straight back in. It was fine. I work in a small village primary school and our office manager sorted it.

Some people take out a life insurance policy for the month. I'd already got life insurance from a mortgage that insisted on it so I was covered.
David Fountain reckons my final salary pension is over 10% more than it says on my benefit statement, because I opted out.