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Discussion in 'Personal' started by MeganSvajlenko, Aug 4, 2020.
For context, my maternity leave is statutory.
Don't x 2
Could you please explain why you have these views.
Explanations would be helpful please.
Every day you don't pay into your pension will, in the TPS, lead you to have a smaller pension many years from now when you retire.
Because it's a really short sighted decision.
Have you worked out how much you will save versus lose on your pension if you do.
Work out on the basis of eg 20 years in retirement. ( remember index linking)
Remember the loss is cumulative -(think compound interest ) £500 saved is £500 not being increased with inflation/pay rises. How much would £500 be worth in 30 years time?
Your pension is an investment.
You get death benefits as well as a pension, well your partner and children would. You now need this more than at any other time in your life.
Why do you think it would be a good plan?
Once you take into account your loss of tax rebate, you don't save as much as you might think.
Are you nuts? No way you should do this.
At least this is a thread where everyone seems to be in agreement.
The longer you are out, the more used you'll get to the money and the harder it will be to take the hit an opt back in.
Also, it's free money. Everytime to put cash in your employer puts cash is too.
Absolutely don't: with all its faults, the Teachers' Pension scheme is one of the better ones, even if it is administered by the sweepings of the Civil Service.