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Death in service benefit?

Discussion in 'Pay and conditions' started by choca_holic, Aug 8, 2012.

  1. Hi,
    I am an NQT starting my first teaching job in September, and just wondered whether teachers have death in service benefit as part of the standard pay and conditions, ie a lump sum paid to your nominated person should you die while employed. My partner has this with his work, and I had it in my old employment, so we have never bothered with life insurance. I know it's something I could just check with the HT, but I'd be embarrassed if it is an obvious no (which it probably is). We'll get some life insurance just for me if it's not in the teachers' conditions.
    Thanks in advance for any replies.
  2. jubilee

    jubilee Star commenter

    It's not part of anyone's standard pay and conditions. It's part of any pension scheme that the employee decides to stay opted into.
    There is a death in Service benefit with the Teachers' Pension Scheme. Those who aren't married can nominate a beneficiary.
  3. coppull

    coppull New commenter

    Yes is the answer.[​IMG]
    Lump sum three times your average salary,but note you need two years service to qualify for this benefit.
    Download a booklet off the teachers pension web site to check out the scheme.
    It is also recommened that you take out term assurance,which is very cheap insurance to cover you and your partner.
  4. jubilee

    jubilee Star commenter

    The OP might want to look into whether it's a) possible and b) advisable to transfer their old pension into the TPS. If it's worth doing, that could immediately give them more than 2 years in the TPS.
    You have to do any transfer within 12 months of joining the TPS, so the OP would need to get a form from the TPS to be completed and sent to the previous employer. The latter completes the information about the ex-employees pension and send the form back to the TPS, who then work out how many years it would buy in the TPS. The employee then has the decision to make on whether to transfer the pension (within the 12 month 'window')
    If a transfer isn't possible, or isn't chosen, there should still be a Death in Service benefit from the existing pension. It's actually a Death before Drawing a Pension benefit.
  5. Rott Weiler

    Rott Weiler Star commenter Forum guide

    Do check this out carefully though as far as your existing scheme is concerned. In my (private-sector) scheme death in service benefit only applied while you were still employed. Once you had left employment there was no lump sum payable if you died before pension age.
  6. Thank you for all your replies. I'm almost certain my old pension/employment (private sector) will not still cover me, but it's encouraging that it is part of the TPS, which I'll obviously be joining. I have 3 years of a decent pension scheme clicked up, so perhaps this will count if I tranfer it into the TPS. Either way I can now have the conversation with my head and know I'm not in dreamworld!
    Thanks again, and let's hope these are theoretical conversations we'll never need to test out!
  7. jubilee

    jubilee Star commenter

    You don't need to sort anything out with your Head. They may even be clueless on information about the pension/benefits.
    You don't even need to do anything to be in the TPS. You are automatically Opted In as an LA paid teacher. It's only those who don't wish to be in the pension who need to fill in a form to Opt Out.
  8. Middlemarch

    Middlemarch Star commenter

  9. Believe me, I'd love to be in it. But I can't pay the pension contribution AND my rent, so unfortunately didn't have any choice!

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