1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Hi Guest, welcome to the TES Community!

    Connect with like-minded education professionals and have your say on the issues that matter to you.

    Don't forget to look at the how to guide.

    Dismiss Notice

Post retirement pension contributions.

Discussion in 'Retirement' started by tolkien28, Sep 6, 2018.

  1. tolkien28

    tolkien28 Occasional commenter

    I'm officially retired according to the TPS website, by 6 days. However it was always my intention to continue with supply work that I've happily been doing between two schools for the coming year (as I'm moving house and I never intended to retire in this abode) I've got my salary of reference and I know that my work will be sporadic which I'm more than happy with. So with that in mind, is it worth continuing to pay into my pension for those days i work, on the basis that I contribute 7.4% and the government put money in too, thus boosting my pension ?
     
  2. FrankWolley

    FrankWolley Star commenter

    Why wouldn't you want to take your pension now? A bit of supply work won't help improve your salary of reference...and you'll get your pension for longer? You can continue to work after retirement, but I think you need to complete a form - best to check with TPS...
     
  3. tolkien28

    tolkien28 Occasional commenter

    I am taking my pension, got my lump sum on Sep 3rd and my first monthly pension is due on Sept 30th. Already spoken to TPS and returning to work is straightforward. As I've said, this house for me is not one I want to live in as a retiree, so until I move I want to work a little.
     
  4. Bedlam3

    Bedlam3 Star commenter

    If you've started taking your pension I don't think you can pay anymore into it, that's not how it works. Also as far as I am aware supply teachers can no longer pay into the TPS. However you would need to check this yourself.
     
  5. Sundaytrekker

    Sundaytrekker Star commenter

    It depends on how your supply is paid. If it’s through an agency then they don’t usually link with TPS. If it’s through the school directly or through the LA then you can. My supply days are pensionable and go into the Career Average Scheme. It’s called Additional Service After Retirement. Whether it’s enough to make much difference depends on how much you work. It won’t be lost as they pay it as an annuity if it isn’t enough for the pension calculation.
     
  6. emerald52

    emerald52 Star commenter

    I paid into the new pension scheme when teaching part time after taking my pension. Well worth doing.
     
    tolkien28 and frangipani123 like this.
  7. tolkien28

    tolkien28 Occasional commenter

     

Share This Page