Teachers' pension - stay? go?

BobQ

taktikback wrote: »

I don't get this new concept that a person needs to have a "financial education" before it is possible to do a very simple thing like reading the booklet that comes with your pension scheme. Yes there maybe some areas that need clarification but the basic principles are easy to grasp for anyone -especially a teacher of any kind.

Yes it is interesting that many people sail through life without thinking about these things.

I recall in the late 1970s attending a civil service interview at the end of which the personnel chap (HR) was explaining the non-salary benefits and made a point of telling me they had a non-contributory pension which I should think of as worth about 7% of salary based on typical career progression. Even then I knew that the salary offered was less than a comparable private sector job but that they were mostly contributory pensions, but I have never forgot the 7% even if based on today's situation my preserved CS pension is worth considerably more than his estimate!