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Teachers Pension on the GTP

Discussion in 'Trainee and student teachers' started by duncanarmour, Jun 10, 2011.

  1. Actually schools need to be very careful around pensions. If they "recommend" that you opt out of the pension scheme they are offering you financial advice, and it is definitely not wise for them to do that as they would be creating a legal liability for themselves if they provided you with poor advice.
    Secondly, it would most likely be poor advice. It is by no means certain what the future holds for the pension scheme but right now it still looks pretty good. Better to be a member now than a new entrant in the future.
     
  2. I was a member of the TPS when I did my GTP (many years ago now........) You are not exploiting the system, you are claiming what you are entitled to. The TDA does not really get involved in these kinds of things, all the GTPs I knew were members of TPS, it was never suggested that we opt out. Yes the school has to pay your contributions but they are basically getting a member of staff for about £4k if you look at the on costs. If the trainee is good then that is an absolute bargain, your staff are freed up to do further development themselves and you get a good member of staff basically on a year long job interview for you.
     
  3. i wouldn't opt out. the school has to pay it and it's worth about 19% of your salary. you're entitled to it and it's wrong that they've even "encouraged" you to opt out.
     
  4. The school is not recommending you opt out ... they are asking you to opt out ... for their benefit!! Was this a member HR? Highly irregular and - I suspect - illegal!
    Opt in I say, but up to you (not me, not the school ... YOU!)
     
  5. Hello

    I'm starting the GTP this September too but when I had my interview with the school they told me there were two financial options they had been given by the provider and they could only offer me the one without the pension. I agreed to this but now after reading the above posts I wonder if this was correct?
     
  6. welshwizard

    welshwizard Established commenter Forum guide

    If it is a state school and you are employed under the Teachers pay & conditions document then the post should be automatically pensionable. Independent and academies have their own terms and conditions. You should be very wary of any employer advice to opt out. They are not licenced by the Financial Services authoority to provide this andI suspect their motives are cost saving. The longer you contribute to a pension scheme the better the final pot and i know many people who bitterly regret their decisions to opt out of the TPS.
     
  7. Thanks for everyone's comments. I got in touch with my training coordinator about this (which is what the school administrator suggested I do if I wanted to clarify the situation) and was told I should decide whether to opt out or not based on my personal circumstances alone, and the school could not ask me to opt out (which, to be fair to them, they hadn't actually done). So all worked out well in the end.
     

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