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One door closes and all that...

Discussion in 'Career clinic' started by mill12, Jun 10, 2017.

  1. mill12

    mill12 New commenter

    I finally handed in my resignation at the end of May for early retirement from a mostly SLT role for over 26 years. That's after several wobbles as to whether I was doing the right thing!
    I've signed up with a couple of supply agencies to supplement my pension and I have to say have been quite excited with the next chapter! So much so, I seem to have a new lease of life!
    This week one of the agencies have asked if I'm interested in an interim Deputy Headship; one to three terms. As my head is in a bit of a spin, and apart from the tax implications, I really would welcome some of your thoughts as I'm really tempted given the scenario at this particular school. Wondering in particular about whether I could put my pension on hold and whether I'd need to continue paying into one.
    Positives and negatives please.
     
    Tinycat1234 likes this.
  2. phlogiston

    phlogiston Star commenter

    If you haven't claimed your pension, no problems, don't claim it and bide your time. You can probably then add to your TPS pot.
    If you have started the claim, I can't advise you. If you're over 60 and claiming your teachers' pension, then you probably need to think about tax implications, if you're about to take actuarially reduced benefits you may find you don't need to worry. I am not a tax advisor though. You are probably best off talking to an expert in teacher's pensions - your union may well be able to help.
    An interim deputy headship might be good, but might be very difficult. The only way to judge the school is to visit it and to talk to as many people as you can.
     
    Orchid2457 and mill12 like this.
  3. caterpillartobutterfly

    caterpillartobutterfly Star commenter

    If you are supplying through an agency, it will almost certainly not include pension contributions.

    If you are retiring from an SLT role, are you sure you want to take on a DH role in a new school? One that hasn't been able to appoint?

    Think hard and consider what you really want to do for you.
     
  4. mill12

    mill12 New commenter

    Thank you both.
    The school is going through "major restructuring ". I need to meet with the head obviously before committing.
    The terms and conditions would be through the agency. I haven't yet drawn but on my pension but it's going through as we speak.
    I don't believe it's been a matter of not being able to appoint as the deputy left quite suddenly as in a week ago. The head wants to take stock before launching into adverts. I need to ask the question why current tlr holders aren't queuing up for it!
    Thank you once again. It's what I needed to hear
     
  5. Sundaytrekker

    Sundaytrekker Star commenter

    I have taken part time roles since retiring and I have been pleased to have a focus. A full on slt role though? Maybe, if you are keen. Maybe consider asking to help them three days a week.

    Your pension depends on several things. If you are taking it before 60 then the amount you earn afterwards doesn't matter just make sure there is a break in contract. If you are continuing beyond 60 without claiming be sure you talk to TPS and understand the implications. If you are working through an agency be sure to understand what they will pay: it may be nothing like you expect.

    I am paying into TPS again into ASAR, Additional Service After Retirement which starts a new small career average pension. You can opt out if you don't want to do this. Again, if it is through an agency this may not be open to you. As far as tax goes, your teacher's pension will carry your personal allowance then anything else should be taxed at 20% plus NI on all of it. You will be able to work out if you are going to reach the higher tax band.

    Consider what you really want to do then ask lots of questions about pay and contracts. Make sure you understand them. Don't be afraid to barter over your salary if they offer a poor deal.
     
    grumpydogwoman and mill12 like this.
  6. mill12

    mill12 New commenter

    Thank you for your informative response. Lots of questions to ask and lots to consider. I must say it sounds an interesting role which is why I'm considering it.
    Thank you for your time.
     
  7. Sundaytrekker

    Sundaytrekker Star commenter

    Do let us know what happens!
     
    grumpydogwoman likes this.
  8. grumpydogwoman

    grumpydogwoman Star commenter

    Do it.

    You like the sound of it.

    The money will come in handy and will boost your pension later on.

    Plus have no hesitation in packing it in if it doesn't live up to expectations.
     

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