Teacher's Pension Lump Sum

CleoRufus

Hi Everyone.
I paid into the teachers' pension scheme for about 10 years and have a sum of approx £30,000 which I was advised by my divorce solicitor that I could claim when I was 55. The TP site said the same when I phoned them . However, when I rang them to arrange the transfer, I was told that I couldn't claim the sum as I haven't taught in a school paying into the scheme since before 2000. I was told that if I taught just for one day in a school that pays the pension, I would be able to claim the money. Now that isn't as easy as it sounds! I retrained as a nurse and that is what I have done for years now.I can't just walk into a school and ask for a day's work.Has anyone got any suggestions for how I might get access to the money? I had budgeted expecting to get it, and am in real difficulties. Thanks.

jem16

CleoRufus wrote: »

However, when I rang them to arrange the transfer, I was told that I couldn't claim the sum as I haven't taught in a school paying into the scheme since before 2000.

According to the form for applying for Actuarially Reduced Benefits, you must have pensionable service after 30th March 2000 so what you are being told appears to be correct.

https://www.teacherspensions.co.uk/members/resources/~/media/Files/Documents/Forms/TP_Mem_Form_ARB_App.ashx

Has anyone got any suggestions for how I might get access to the money? I had budgeted expecting to get it, and am in real difficulties. Thanks.

Under the rules, it looks like you will have to wait until normal retirement date of 60. Sorry but there appears to be nothing you can do.

kidmugsy

What about working for a private school that employs a nurse?

jem16

kidmugsy wrote: »

What about working for a private school that employs a nurse?

How would a nurse have access to the Teachers' Pension Scheme?

kidmugsy

jem16 wrote: »

How would a nurse have access to the Teachers' Pension Scheme?

Because she works for a school - worth looking at I'd think, unless you know for certain that it's prohibited.

Or look at supply teaching? Or see if you can get a job at a college teaching nursing?

JoeCrystal

kidmugsy wrote: »

Because she works for a school - worth looking at I'd think, unless you know for certain that it's prohibited.

Or look at supply teaching? Or see if you can get a job at a college teaching nursing?

I believe that people with other jobs such as office, cleaning and such get LGPS instead. It is quite possible that the school nurse would still get NHS or something? No idea really.

Cheers,
Joe

seven-day-weekend

And many private schools don't subscribe to the TPS.

Supply Teaching, and opting in to the Pension Scheme, might be the best route. Ask the TPS how long you would have to pay in for to qualify.

jem16

kidmugsy wrote: »

Because she works for a school - worth looking at I'd think, unless you know for certain that it's prohibited.

As Joes says, only actual teachers and lecturers qualify. As 7DW states, even some teachers are excluded.

From TPS website;

https://www.teacherspensions.co.uk/members/faqs/new-and-active-teachers/scheme-membership.aspx

As long as you’re a teacher or lecturer employed by a local authority or an academy. Or you’re in an independent school or a further or higher education establishment that has been accepted into the Teachers' Pension Scheme, you'll be in pensionable service and can join the scheme.

Alternatively, you could be a teacher working for a Function Provider (a company awarded a contract to perform functions on behalf of a local authority).

To become a member of the scheme you must also be between the ages of 18 and 75.

Scottish teachers (of which I am one) have the same rules.

Staff working at schools who are not teachers would have access to the LGPS usually.

whitesatin

Supply teaching has changed a lot over the past few years. Some schools employ direct but lots use agencies who may not pay to scale and may well not get involved in the TPS at all.

jem16

whitesatin wrote: »

Supply teaching has changed a lot over the past few years. Some schools employ direct but lots use agencies who may not pay to scale and may well not get involved in the TPS at all.

I suppose it depends on where the OP lives. In Scotland all supply work is handled via the local authority. Jobs here are very hard to get though.

xylophone

http://www.atl.org.uk/pay/pay-negotiations/pay-background-supply-teachers.asp