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Teachers pension when returning to UK

Discussion in 'Teaching abroad' started by mosley88, Aug 6, 2018.

  1. mosley88

    mosley88 New commenter

    Hi all

    I am considering going to with in China in a years time as a deputy head. I would do this for 3 years max.
    My biggest concern is my teachers pension. Has anyone used their gratuity to 'top up' their missing contributions when they return to the uk? Is it possible to do this so that I don't have those missing three years? If not, what are my best options dur my time away?

    Thanks everyone
  2. mosley88

    mosley88 New commenter

    *work in China
  3. stopwatch

    stopwatch Lead commenter

    I don't know the up to date ruling regards topping up when you get back, but I do know that you can't pay into your TP whilst overseas.

    I would imagine that, if you were able to do this, you could only do this if you were in teaching employment in UK

    BTW how do you know it will be 3 years max? many many teachers go out with a '3 years max' idea and stay for many more years *(like me - I went in 2001 and have just returned for good (retired))
  4. nemo.

    nemo. Occasional commenter

    When the TPS moved to 1-80th basis it became far less attractive anyway. Once abroad the money and less ofsted or political nonsense often means you wont want to return.

    Also cash in hand is better nowadays - especially as a pension can be eroded by inflation. Especially with Brexit hard crash looming some non GBP based earnings will be a good idea - large scale inflation and a falling pound wont be fun for those in UK.
  5. stopwatch

    stopwatch Lead commenter

    Didn’t the TPS move to a 1/60th scheme?

    As you say, smart investment of the extra cash is a better prospect, or at the very least, another option to the TPS. I am in a better position with my overseas cash than I would have been with an extra 17 years TPS.

    Mind you - ask me again in 17 years (if I’m still around!)
  6. kemevez

    kemevez Occasional commenter

    I agree with much of what is written above. A gratuity in lieu of a pension contribution is much better than a pension contribution - because you have the choice of either investing it in some kind of scheme anyway, or of spending it in the here and now, or of giving it away to a good cause, or all or any of the above.
    dumbbells66 likes this.

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