Teachers pension if I take new lower scale job.

[Pampleparsnip]

Hi
I started teaching in the 90's. I got to UPS2. For the latter part of that I was part time.
I had a break and now work for a supply agency with its own pension scheme.
I have been offered a part time role which I expect to be mainscale though no details yet.
Will that scupper my pension in some way? Thinking final salary wise. I don't know about this stuff unfortunately.

That interesting eh?

I imagine we've all been at work, @Pampleparsnip.

You need to know the exact terms of your pension. I entered the scheme after you so I have far fewer years of service under the final salary scheme and can't advise.

Bluntly, you need to know about this stuff so you may as well start now. Start with David Fountain's website or YouTube videos - he is very clear and knowledgeable.

Another vote for David Fountain.

His nickname is DiddyDave and he often answers direct questions here:

https://staffroom.boards.net/board/5/retirement

You will need to register to get access.

I know I need to sort it out - I just threw out a quick message after a conversation with another colleague (who is also getting on a bit) and before my guided reading group arrived!
I will look at Dave thanks.

I'm not expert but you can lock in your best 3 years of the last 19 by opting out and then back in again (I believe). Do check with the Teacher to Teacher /Dave Fountain Facebook page before you take my word for it.

Oh heck, should proof- read first. Should say 10, not 19 years.

Thank you.
I had a look at the videos but it's still very confusing.
I'll take another look now it's half term. 🙂
I have an appointment at the end of the month with an advisor and I've looked at the TP dashboard and my predicted annual payments are beyond grim. We have been very very stupid.

Hi there.

I know a fair amount about this and will happily answer any questions.

I take it you’re a transitional member with benefits in the old final salary scheme as well as the career average one?

80ths benefits are based on your final salary, which is the better of your final 12 months salary or the best three year average from the last ten years - you will see this on your 80ths statement - you can also open a pdf which shows salary details determining the best three years - if that’s approaching ten years ago, meaning better salary years might soon begin ‘dropping off the bottom’ you can opt out of TPS for a short time, then opt back in, to protect you. It’s not easy to explain, but it’s related to what they call a hypothetical calculation, which compares benefits shown on your statement with benefits you would have accrued if you had maintained those previous higher salaries.

Good luck.