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Teachers Pension Scheme - KTP Graduate
DarkConvict
Posts: 6,347 Forumite
Hi,
I'm a 23, and a recent graduate from university, I've entered into a KTP with my university and forms have arrived with regards to a teachers pension scheme. From what most of this forum says this is a good scheme, but when the KTP ends in 24 months time I believe I would no longer be eligible for the scheme, so is there any point investing?
If your not aware, a KTP scheme is where a graduate is employed by the university, they work for a company whilst they continue to study for a higher degree, in my case a MRes. So once the KTP is over I will no longer be a student, not employed by the university.
All advice welcome.
I'm a 23, and a recent graduate from university, I've entered into a KTP with my university and forms have arrived with regards to a teachers pension scheme. From what most of this forum says this is a good scheme, but when the KTP ends in 24 months time I believe I would no longer be eligible for the scheme, so is there any point investing?
If your not aware, a KTP scheme is where a graduate is employed by the university, they work for a company whilst they continue to study for a higher degree, in my case a MRes. So once the KTP is over I will no longer be a student, not employed by the university.
All advice welcome.
Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
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Comments
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DarkConvict wrote: »in 24 months time I believe I would no longer be eligible for the scheme, so is there any point investing?
There is very much a point. For 2 years you will be getting free money from your employer by way of contributions to your pension.
At the end of 2 years your pension will be frozen and increase in line with inflation until you can take it at age 65.
You would be daft not to join.0 -
Fair enough, I will not fill out the opt out form.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
Anyone else have further thoughts on joining it for 2 years? Or going to start a private pension?Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
Says it all really.There is very much a point. For 2 years you will be getting free money from your employer by way of contributions to your pension.
At the end of 2 years your pension will be frozen and increase in line with inflation until you can take it at age 65.
You would be daft not to join.0 -
Simply join the scheme. There is nothing else worth saying.0
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Fair enough, just wanted the advice of more than 1 person. CheersAlthough no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
Join the scheme, it's a good scheme.
It may be possible to consolidate your two years worth of pension contributions into a new pension scheme further down the line.
What's not to like?0 -
Thats a yes from everyone, cheers all. I will join.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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