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State Pension/TP Query

Discussion in 'Retirement' started by symmnkt, Oct 9, 2019.

  1. symmnkt

    symmnkt New commenter

    Dear All,

    Asking on behalf of a friend and to be honest I have no idea myself.

    My friend is wanting to pay more in to her teachers pension but someone said that she would also get a state pension of up to £168 a week.

    Basically she wants to know if this is true (trusting that continues to contribute to her NI payments). She says the calculators on TP forecasts she will get around £16000 a year so would she get the extra £8000 a year on top of this from state pension or does it work completely different?

    Thank you for anyone who can advise

  2. ikon66

    ikon66 Occasional commenter

    border_walker likes this.
  3. MrMedia

    MrMedia Star commenter

    At the state pension age, yes, it’s a separate pension. Unlikely that she will get it at the same time as the teacher's pension. More likely she will get the TP first and then when she is what is it now, 66?, get the state pension.
    border_walker likes this.
  4. ikon66

    ikon66 Occasional commenter

    On another note she can’t pay more into her teacher’s pension. She could take out AVC with prudential or another SIPP
  5. Sundaytrekker

    Sundaytrekker Star commenter

    There are ways to buy more teachers additional pension usually over a number of years.
    border_walker and ikon66 like this.
  6. Saffron5

    Saffron5 New commenter

    You get teacher pension and state pension
  7. Rott Weiler

    Rott Weiler Star commenter Forum guide

    She can check when she will get her state pension here

  8. Dorsetdreams

    Dorsetdreams Occasional commenter

    Not meaning to be rule to anyone, but how sad it is that many teachers spend so long working to improve others' futures yet give so very little attention to their own.
    Jamvic, ikon66, catmother and 4 others like this.
  9. Ivartheboneless

    Ivartheboneless Star commenter

    Depends on the effect of the years of "opted out" when contributors to a work pension paid lower NI, until everybody went onto paying the same rate of NI in whatever year that was (2015?). As others mentioned, you can check your personal state pension forecast on government website.
  10. jubilee

    jubilee Star commenter

    The changeover date was April 2016. Previously workers in an occupational pension were contracted out of SERPS, the State Earnings Related Pension (the second State pension). We paid slightly lower NI and that gave us the basic State pension. Everyone now pays the same, higher NI and earns towards the new higher state oension.
    I had a few SERPS years from before I was in the TPS and some from doing agency teaching. I then paid 2 years of voluntary NI from 2016 and started getting over £160 per week State pension in 2018, in top of my TPS pension.

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