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Thoughts on opting out of the Teacher’s Pension Scheme while on maternity leave?

Discussion in 'Personal' started by MeganSvajlenko, Aug 4, 2020.

  1. MeganSvajlenko

    MeganSvajlenko New commenter

    For context, my maternity leave is statutory.
  2. Symingtons

    Symingtons Occasional commenter

  3. ilovesooty

    ilovesooty Star commenter

  4. MeganSvajlenko

    MeganSvajlenko New commenter

    Could you please explain why you have these views.
  5. peakster

    peakster Star commenter

    Absolutely not.
    WB likes this.
  6. MeganSvajlenko

    MeganSvajlenko New commenter

    Explanations would be helpful please.
  7. Symingtons

    Symingtons Occasional commenter

    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.
  8. ilovesooty

    ilovesooty Star commenter

    Because it's a really short sighted decision.
  9. lizziescat

    lizziescat Star commenter

    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.
    Last edited: Aug 4, 2020
    ilovesooty and Symingtons like this.
  10. Mangleworzle

    Mangleworzle Star commenter

    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.
    needabreak, blazer and mothorchid like this.
  11. mothorchid

    mothorchid Star commenter

    Why do you think it would be a good plan?
    ilovesooty and blazer like this.
  12. border_walker

    border_walker Lead commenter

    Once you take into account your loss of tax rebate, you don't save as much as you might think.
  13. artboyusa

    artboyusa Star commenter

    Are you nuts? No way you should do this.
    ilovesooty likes this.
  14. ilovesooty

    ilovesooty Star commenter

    At least this is a thread where everyone seems to be in agreement.
  15. WB

    WB Star commenter


    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.
    needabreak and Symingtons like this.
  16. Katzenjammer

    Katzenjammer Senior commenter

    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.
    WB and needabreak like this.

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