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Upper pay scale Dilemma

Discussion in 'Welcome lounge and forum help' started by kalsumix, Mar 9, 2020.

  1. kalsumix

    kalsumix New commenter

    Has anyone applied for MPS pay scale jobs whilst actually being a UP3 teacher? What are the possible implications long term?
  2. diddydave

    diddydave Established commenter

    Beyond the actual pay you'd be getting there could be quite a dramatic effect on your pension.

    With your final salary being used to work out the pension you stand to lose a lot. However, do check out the 'hypothetical calculation' as it could protect you to some extent - particularly if you intend working for quite a few more years (around 1 year for every 2% that your salary would drop).
    Sumigal likes this.
  3. Sumigal

    Sumigal New commenter

    Thank you for this. Didn’t realise the implications for my pension. There are very few UP3 jobs out there and supply teaching doesn’t contribute to the pension at all.
  4. diddydave

    diddydave Established commenter

    The pension issue should be quite high up the list for everyone but I'm afraid for many it is so far in the future people aren't alert to how they can maximise it and protect what they already have.

    The hypothetical calculation is a great protection for people who have a break in their service but it can also be used by those who have reached a plateau or who are taking a lower salary. Taking a break of a month from the pension scheme (you don't have to stop working) creates an extra pension calculation. Having looked into the scheme now in some depth I would recommend that anyone who has time in the final salary scheme, which given the court case is most likely to be everyone, who has been on the same pay scale for 10 years should take a month out immediately and anyone within 3 years of gaining a promotion should do the same to lock in an extra calculation. The only reason that this wouldn't be to their advantage would for all teachers to get inflation busting pay rises for a number of years that would lift their pay above inflation by more than 10%.

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