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Pensions

Discussion in 'Teaching abroad' started by JAFF23, Feb 27, 2016.

  1. JAFF23

    JAFF23 Occasional commenter

    I am thinking (due to my crappie last week teaching here in the UK) of the possibility of teaching abroad. Silly question; can you still pay into your teachers pension?

    Many thanks
     
  2. applecrumblebumble

    applecrumblebumble Lead commenter

    Short answer No!
    Please check with TPA how long you can be out of the TPS so you can continue paying in the future. I think it is 5 years. Remember the TPS is for teachers that work in this country.
     
  3. stopwatch

    stopwatch Lead commenter

    You used to be able to pay up to 5 years when you moved overseas (you had to pay double ie yours and what was previously your employers contribution) but that was stopped around 2006.

    If you intend moving overseas for a while, you might want to look at an alternative. I would go for buy to let properties. Others may disagree.
     
  4. Helen-Back

    Helen-Back Occasional commenter

  5. clovispoint

    clovispoint Occasional commenter

    And watch his video here. Get a pen and paper and a calculator. Don't panic when you see the numbers just start saving and investing.
     
  6. the hippo

    the hippo Lead commenter Community helper

    If you really want to stay in the teachers' pension scheme, then the sensible thing to do is to stay in the UK.

    If you retire somewhere expensive, like the UK, then it is a good idea to have a very substantial pension because you will still need a lot of cash to pay for things like expensive public transport, heating, Council Tax, car parking, VAT and your TV licence. If you retire somewhere cheaper, like Bulgaria, then your UK pension or pensions will go a lot further. I asked a Bulgarian friend of mine what he did when the weather gets really cold. "I go up to the pine woods with my chainsaw," he replied.
     

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