Retirement

[Newrumpus]

I would like to take early retirement at the end of this academic year. Does anyone know how much notice is required in order for the pension to be ready?

I would imagine your union will be able to advise you.

Thank you. I have looked but can’t find anything on the website or any of the usual places. I don’t want to discuss this in school just yet.

Dave Fountain is your man. He has a FB page and there are also videos on YouTube. An incredible source of information.

Nothing to do with your Union. Teachers’ Pension ask for applications in with 6 months notice of retirement, but that’s not an actual requirement. 3 months is better. Someone on Dave Fountain’s TP support Facebook group put in an application with 10 days notice, and it was processed and paid out within the month, but that is very unusual. Often TP and schools need to be contacted about anomalies in your work history - it’s often not correct and needs adjustments, which can take time to chase. Generally, the answer would be give them as much time as possible, but don’t ‘not’ put in an application because you think you’re too late, if you see what I mean. And I absolutely agree with getting onto the Dave Fountain website, read the guides and ask any questions there. Processing our pensions is currently a right mare - very complicated and not being managed well. Knowing your stuff is essential. Good luck!

Sorry - Dave Fountain’s Facebook group (not website) and he has videos on YouTube to check out.

Thanks everyone

I applied for mine at the end of May and received my lump sum on 1st September.
Make sure you check your service history is correct and that your Trust/Local Authority have sorted your paperwork as I had to give mine a nudge.

I retired this academic year. Six months notice is what you need for TPS to begin processing your application so you need to apply on the 1st March for your pension to begin on 1st September.

I got my final figures through around mid June, clicked yes on the form and I had my lump sum on the. 1st September. Your pension is then paid the day before your birthdate, so my date is 6th, so I get my pension on the 5th. I had a small amount on the 5th September then my full monthly pension on the 5th October.

Make sure you can get onto the TPS website to look at your benefit statement and make sure all of your work history is correct as this can massively slow things down.

My application went without a hitch but I know many people on David Fountains Facebook page had issues with payments not being made.

Good luck and ask any questions. Not regretted my decision to go one bit.

Join the teacher to teacher Facebook group, to access Dave Fountain's help and support.

I am retiring in August 2026, I am applying for my pension in March so will be ready for September.

Do check your service history. Mine had errors but were corrected.