Chronically ill advice about Teachers Pension Scheme

Athomas

I have unfortunately been diagnosed with Multiple Myeloma which is a blood cancer. It's a terminal illness but I could hang around for anything upwards of 3 to 20 years. Here's hoping :beer:

Anyhow. I'm an academic 46yrs old, with just over 10 yrs worth of contributions to the TPA under my belt. To be honest, I don't know whether it's worth paying in any longer as I might not make retirement age.

What are my options and does anyone know of a reputable pension advisor who specialises in the complexities of the TPA.

I'm annoyingly in pretty good health at the moment so it's unlikely that I'll be allowed to retire on a sickness pension.

Dunroamin

I don't know your personal situation but don't forget the death in service benefits and dependants' pension that are part of the TPA scheme. Also, when/if you do become too ill to work, you should be able to take ill health retirement of double the number of years service you've accumulated.

Good luck.

Athomas

Thanks for the reply. Yes I'm aware of that. I do need to run through all the available options open to me so was wondering if anyone knew of any pensions experts who specialise in the TPS.

Bigmoney2

Athomas wrote: »

Thanks for the reply. Yes I'm aware of that. I do need to run through all the available options open to me so was wondering if anyone knew of any pensions experts who specialise in the TPS.

The trustees of the pension scheme are probably the people to talk to.

Yorkie1

Your union may well have a deal with particular IFAs / pension advisors who are familiar with the TPS; might be worth looking in the magazine / website etc.

hyubh

Athomas wrote: »

Anyhow. I'm an academic 46yrs old, with just over 10 yrs worth of contributions to the TPA under my belt.

It may sound silly, but is it definitely Teachers not the USS? Lecturers at pre-1992 universities will be in the latter, those in 'new' universities or FE colleges the former. The schemes are similar from a benefits point of view though.