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‘Shortchanged’ teachers could have a case for a legal challenge about their pensions

Discussion in 'Education news' started by TES_Rosaline, Aug 28, 2019.

  1. TES_Rosaline

    TES_Rosaline Administrator Staff Member

    ‘The government could face legal challenges from hundreds of thousands of teachers over changes to their pension scheme.

    That’s according to lawyers who successfully challenged the government over changes to judges’ pensions.

    Manchester law firm Leigh Day believes teachers, like judges, also have a case for a legal challenge on the grounds of age discrimination – because older teachers who are within 10 years of retirement have been allowed to stay on the old, more beneficial conditions.’

    What are your views about this issue?

    https://www.tes.com/news/teachers-losing-ps20k-year-due-pension-changes
     
  2. Susanne12345

    Susanne12345 New commenter

    I'm seriously concerned about my pension. I've been teaching 6 years now and my pension is awful. I'm 28. Add to that the huge student loan (upwards of 30k after 6 years paying, 3 at over 350 pounds a month). My generation is seriously shortchanged compared to those before.

    My father retires this year at 56 after 40 years in the military on a comfortable pension with several properties under his belt. He had bought and nearly paid off his first mortgage by my age, I'm nowhere near it in spite of frugal living. If anything could be done to support those like me who will likely be working until we die, that would be great! Otherwise, I'm afraid, I will have no choice but to leave teaching for more profitable careers that pay my mortgage.
     
  3. FrankWolley

    FrankWolley Star commenter

    I'd advise my children (both in their late 20s, BTW) to do exactly that were they foolish enough to be teachers...vote with your feet (or your wallet)!
     
  4. bertiehamster

    bertiehamster New commenter

    I'm with Frank-get out, now.
     
  5. diddydave

    diddydave Occasional commenter

    Given that the government has acknowledged that they will be accepting the court's decision AND applying it to ALL public service pensions that were changed in a similar manner to that of the Judges/Firefighters it's a bit of a non-story until the details of the changes are revealed. The lawyers in the case seem to be a bit too keen to get a 'client' (and probably associated fees) where there may not be a need.
     
    PeterQuint likes this.
  6. diddydave

    diddydave Occasional commenter

    Your father has done well but of course by your age he had been working for twice as long as you, though I do suspect that after 12 years you are still unlikely to have paid off your mortgage on a teacher's salary!

    Although you say your pension is rubbish don't forget that, as it currently stands, the amount you 'have' is going to grow by inflation AND 1.6% each year...after 40 years teaching (to match your father's record) (that is in another 34 years) every £1000 in your pension 'today' will have increased to the equivalent of £1715 in today's money.

    Next year's contribution of 1/57th will grow in the same way, to work out what it'll be worth in 33 years time multiply your 57th by 1.016 ^ 33

    Of course that assumes you stay in teaching for all those years - that's a challenge in itself
     
  7. schoolsout4summer

    schoolsout4summer Star commenter

    Or, as you get older and more expensive, be allowed to stay in teaching.
    Much harder to get a DECENT job when yo are 50+
     
  8. 01ade

    01ade New commenter

    Quite unfortunate
     
  9. PeterQuint

    PeterQuint Lead commenter

    It appears that news is slow to reach this area from the ‘Retirement’ forum.
     

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