Opting out of teachers pension. Confused!

chucknorris

rob404uk wrote: »

I think the teachers' pension is good as it stands, but...

What is to stop them changing the goalposts 5 more times before you retire. Politicians are liars, teaching is a profession under attack so do with what you think is best.

It is still a fantastic deal, just moments ago I posted this on another thread (the ref to 'not a bad deal' was because the person I was responding to called it that):

I'm in the TPS (teachers' pension fund) my contributions have gone up from 6.4% to (approx.) 12% next year (currently 10.1%) and it also moves to career average (from final salary) and to CPI from RPI inflation. But I would class it as moving from unbelievably excellent to excellent (rather than merely 'not a bad deal'). It is IMO still far too much for the tax payer to subsidise, people might think that I am a hypocrite or greedy for having that opinion and not opting out, but obviously if I am in it I intend to take advantage.

EDIT: I wouldn't like it if they moved to a DC pension but I would understand why, although I would immediately retire (subject to notice period and replacing me) if that happened.

ermine

As my partner and I plan to buy a second property together soon, the flat would be rented out and so give me an additional income of around £800 per month from the age of 53, does this make sense! I am really thinking of going for it, any advice? I'm muddled!

If you need to ask the question, the answer is NO

Not everybody in Britain who buys property makes a shitload of money, y'know...