Very confused on Teacher's Pension option

atush

Do the maths with your current contributions and see if you are still paying HRT.

If you are, paying into a pension and getting 100 worth at a cost to you of only 60 is a not brainer.

HL and Cavendish online is where I'd go in your case.

amandajc

Or Fidelity, which is where I've gone for my small SIPP. (0.35%pa plus fund charges but no charge for switching funds ).

eastofeden

Yes I did mean 15 months. My current salary is 57500. Thanks everyone for the help so far! I have a lot more knowledge than I did earlier so will look into the private pension situation immediately.

Enjoy the cruise if you go for it! I fancy trekking in the Himalayas and I could then go at an optimum time of year! Happy days!

amandajc

Enjoy. Whatever you do :-) You deserve it.

jem16

eastofeden wrote: »

Yes I did mean 15 months. My current salary is 57500. Thanks everyone for the help so far! I have a lot more knowledge than I did earlier so will look into the private pension situation immediately.

Sounds like you've got plenty still to use up and still get higher rate tax relief. Remember though that you will need to contact HMRC to get the extra tax relief unlike your teachers' pension scheme.

Perhaps try to also get some information on the breakeven point and see if it's worth doing.

Enjoy the cruise if you go for it! I fancy trekking in the Himalayas and I could then go at an optimum time of year! Happy days!

Thanks - I'm sure we will. Enjoy your trekking too.