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Nervous about re-employment after retirement.

Discussion in 'Retirement' started by wayside34, May 27, 2019.

  1. wayside34

    wayside34 New commenter

    I retired at 60 over 6 months ago ( I formally resigned to retire ). Final salary protected member with NPA of 60 I did not go early on reduced benefits. I have been offered supply teaching at my last employer working in further education.I envisage I will be working a couple of days a month, no more, which suits me.

    So what is making me nervous ? I just don't want anything to effect my teachers pension I currently receive.

    So far I have worked out my point of reverence using the formula give on page 7 of returning to work Teachers pension
    ,as it is only ad-hoc work I am well under the amount I can earn ( a different amount than T.P staff stated over the phone )

    I am informed by my payroll that they upload details of employees paying into T.P. each and every month and I do not need to do a certificate of re-employment to T.P I called T.P and they said no need to fill in re-employment form ( yet states I must on statement of retirement benefits ) . I would be re-enrolled/auto enrolled in the 'career average' T.P. as per note ( below ) on statement of benefits.

    'You need to be aware that any service undertaken after retirement will fall under the career average

    Anyone opted out? when working such few days as I would be? I am considering it but would feel strange having being in a good scheme for over 30 years

    I have mixed information when I contact the T.P some staff are good other no so good, with regard to their training, hence my questions.

    I don't have to work. I enjoy the prospect of working now and again, saying that if anything effects my current pension I will not work.

    Any thoughts from retired members now re-employed. Thanks for reading my 'nervous ' post.

    https://www.teacherspensions.co.uk/...es/Working life/Active_Teacher_Dec_ 2018.ashx
  2. Dunteachin

    Dunteachin Star commenter

    The only people who can tell you if working will affect your pension are TP.
    Never take financial advice from us! ;)
  3. Lara mfl 05

    Lara mfl 05 Star commenter

    Dunty has a valid point.

    My only contribution is that after about October /November time I used to pick up work at schools, who normally used retired teachers , who found they'd used up their ' allowance' for that year and wouldn't be available till the following April. So I was able to pick up supply work.
    wayside34 likes this.
  4. harsh-but-fair

    harsh-but-fair Star commenter

    Did you need a priest to help you with that?
    Piranha and Dunteachin like this.
  5. wayside34

    wayside34 New commenter

    Lara mfl 05 likes this.
  6. tigerswin

    tigerswin New commenter

    @wayside34 I work in Scotland and retired fully in June 2018, i.e. I was 60 years old and claimed my full pension. I have worked at my old job since schools returned in August 2018 for 2 days every week and it has not affected my pension in any way. Initially payments into the new career average scheme were deducted from my earnings but I completed a form which I requested from the Pensions Agency and those payments were returned in a lump sum after a couple of months. I assume that 2 days work per week (I work Mondays and Tuesdays) is not enough to cause me to reach my salary of reference so I don’t imagine some ad hoc days would affect your pension. I chose to opt out of the pension scheme but one of my colleagues who is in a similar position, i.e. retired and working 2 days a week, opted to make contributions into the career average scheme on the basis that it was less money for his wife to spend and the government were topping up with employers contributions.
    wayside34 and Lara mfl 05 like this.
  7. wayside34

    wayside34 New commenter

    Thanks tigerswin very helpful post..
    Lara mfl 05 likes this.

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