Thinking about your pension?
If you are getting towards the age when you are
considering retirement you need accurate information about your pension. As a
member of the Teachers’ Pension Scheme you will get an annual report of
what your pension is currently worth. You might not have realised that you can
get the very latest estimate of your actual pension on-line directly from the Teachers' Pension Scheme
itself.
The registration and login process is quite involved
for security reasons and you will have to have your personal details –
payslip etc to hand to work through it all. It is also, personal experience
here, difficult to remember all your login details if you don’t check the
site for some months.
When you’ve found what your pension is worth, remember
that is only if you don’t touch it till your 60th birthday. Taking
it earlier loses a percentage by actuarial
reduction and also you need to know about the different types of
premature retirement. If you would like more detailed info to read yourself
with some worked examples this document on our National website is good
particularly clarifying the changes that have happened in recent years.
When you’ve
done all that you will probably want some more general financial advice. For
this go to Teachers Assurance.
Our
local contact for
Teachers Assurance an NUT company is Nick Maughan,
01482 341497 he is very willing to
advise as much as you wish.