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Voluntary redundancy?

Discussion in 'Pay and conditions' started by kfor7007, May 22, 2011.

  1. I have been offered a very good package (which I've accepted) as part the voluntary redundancy deal offered by my state comprehensive school. Now I've been offered a part-time post by an independent school, starting in September - and I've got this week (up to half term) to accept.
    My question is: would accepting this post (even in a non-state school) invalidate the terms of my pension payout, or do I have to wait a statutory period whether or not it's a maintained school or not?
    Many thanks for any advice...
  2. mrkeys

    mrkeys Occasional commenter

    You must seek advice from your union.
    I understood that the period of not taking up paid employment for a month only applied to state schools.
    Again, please get full advice and not from your school rep.
  3. jubilee

    jubilee Star commenter

    Are you triggering your TPS pension when you leave your State school post on redundancy terms?
    Or are you just taking the redundancy package and want to know if you can carry on contributing to your pension from teaching work in the Private sector?
  4. I'm taking my TPS pension and I don't envisage contributing further to it in the Private sector. How does that affect the situation?
    Thanks for your answers.
  5. jubilee

    jubilee Star commenter

    If it is going to be an actuarily reduced pension that you choose to have in addition to standard redundancy terms , not an early retirement package,your future earnings will not limit your receipt of the pension.
    Those who take an early retirement package, that might include some pension enhancement, do have pension payments reduced or curtailed if they then start working again (I think it just applies to State teaching work). They'd be better working fewer hours and staying within the earnings limit or any other work is effectively done for nothing.
    Double check with you Union , the TPS and possibly Teachers Assurance (free pensions advice, I believe).
  6. Many thanks for this.
    My package includes 3 years' enhancement and no actuarial reduction (I'll be 56 in August). I think the key here is the fact that the school with the job is out of the state sector. I'll certainly seek further clarification, though.

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