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Teachers' Pensions - given up trying to understand.
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Will do, Thanks.Send me a pm with your email address then.The idea is though that your contracted out years are covered by your contracted out pension so you're not losing out. In fact as you're able to build up more now, you're actually going to be one of the winners as you'll have a state pension near ( or at ) the full single tier rate plus your contracted out pension.
I don't know about the full rate, but yes, I think I should get slightly more state pension than I would have under the old (contracted out) system.
I'm one of those people who thinks that paying NI for life actually entitles me to something :rotfl:, rather than it was my civic duty to subsidise someone else who pays nothing
(Irritates a bit that if I'd never done a days work in my life I could have paid precisely zero NI for 35 years and get the full "new" pension, even contracted out I paid way over the minimum threshold for contracted in)
Like I said though, I have to grin & bear it anyway, as the only way to not pay NI is to not have a job
I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science
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It is and down to each personal circumstance of the individual. My own pension arrangements were complicated, due to varying contracts, and I have benefited from historical calculations of the best of three etc. I know also that took a deal of calculating and going back and forth to the scheme provider to clarify point after point. That's what anyone else should do in similar circumstances to ensure they are acting on the correct and up to date advice.
Thanks for your time, you are quite right, I will devote one of my "days off" to ringing the TPS for my figures, when I have a fair idea of what the answer should be I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science)0 -
I'm posting from my understanding and, as above, clearly that will be incorrect in some cases. That's not intended to mislead!! Posters post all the time on their understanding and if that is incorrect its likely someone else will point out the correction - thats how these forums work.
I did and you still questioned me on the 13 years bit! Much easier to say you're looking at it from an LGPS point of view and don't know if the TPS is similar or not.The OP has since posted that he is not part of the CARE scheme which changes the view etc etc.
I did say that too. Point is that if you knew the TPS ( and most of the other schemes as far as this goes ), you would have realised that the protection meant that façade was not on the CARE scheme.That's the way these forums work.
Most people either post where they have actual knowledge or at least say this might be what will happen but is based on another scheme. You did neither and could have sent façade or anyone else looking for info on the TPS down the wrong path.I would always encourage posters to post their opinions, and not to worry whether they are correct or not. That will be pointed out and everyone learns.
Only if someone does correct it.The irony of hubhy response to me is that he stated I was giving 'advice'. The whole premise of this board is that nothing posted can be constituted as advice - so by his own definition, he is incorrect though, no doubt, the irony will be lost on some!!
Obviously on you it seems. Hyubh has a point - he is very knowledgeable about the LGPS and helps out with posts on that. He does occasionally come into TPS threads but always says that the rules are different. You should do that too if you want to give your opinion.It is and down to each personal circumstance of the individual. My own pension arrangements were complicated, due to varying contracts, and I have benefited from historical calculations of the best of three etc. I know also that took a deal of calculating and going back and forth to the scheme provider to clarify point after point. That's what anyone else should do in similar circumstances to ensure they are acting on the correct and up to date advice.
Of course it is and no-one should just accept help from an internet forum at face value. However it doesn't help if they're led up the garden path in the first place.0 -
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You'll be lucky if you get that answer. They usually just give an estimate based on final salary calculations.
I could be in trouble then.
The final salary they give for me is way above anything I ever earned.
I assumed this was because they had done the compounding of cpi on historic ones to arrive at the "best" figure, but it could simply be because they are incompetent
Makes the difference between penury and the workhouse with only 25 years service. :mad:I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science)0 -
The final salary they give for me is way above anything I ever earned.
I assumed this was because they had done the compounding of cpi on historic ones to arrive at the "best" figure, but it could simply be because they are incompetent
Well you never know - perhaps they have got it right this time. Ask them.0 -
Thanks for your time, you are quite right, I will devote one of my "days off" to ringing the TPS for my figures, when I have a fair idea of what the answer should be
I think you will need to have a big coffee mug beside you before ringing!!
I know I spent a lot of time talking to the scheme providers on various facts ..... but fully agree you need to be clear in your own mind what all the figures are before contacting them.
If they say something different to what you were expecting then you need to clarify which version is correct - usually it will be your version
Ultimately they will be providing the info and they will make lots of assumptions. Often you will be talking to relatively inexperienced personnel and if your pension is in anyway complex then I would ask for a senior case worker.
Check the figures from the forums etc with the provider - check the figures from the provider with the forum etc. When they all match up then there is a good chance you are on the right lines.
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I did and you still questioned me on the 13 years bit!
Yes - doing what you advocate - clarifying the correct position!!Most people either post where they have actual knowledge or at least say this might be what will happen but is based on another scheme. You did neither and could have sent façade or anyone else looking for info on the TPS down the wrong path.
I think you can go around in circles on that all day long ....
My point is that this forum alone has several different boards on just about all aspects, from pensions to credit cards etc.
People post and contribute to the debate. If I pose a question on something and someone replies with info that is incorrect then I will say so. If I'm not certain I will look it up.Of course it is and no-one should just accept help from an internet forum at face value. However it doesn't help if they're led up the garden path in the first place.
For the most part, posters on here are knowledgeable enough not to be led up the garden path. It will always go back to the fact that nothing posted on here is concrete and they are merely suggestions for an OP to act on or not.
The casual written text will not only be ambiguous but are just suggestions. People should have the feeling of being able to post or ask questions without feeling their every word is scrutinised and open to question. To do that defeats the spirit of contribution.
However, as I am my own person and not of the herd mentality it seems that sits less well with some. No worries .... 0 -
Yes - doing what you advocate - clarifying the correct position!!
How do you know I'm correct then?For the most part, posters on here are knowledgeable enough not to be led up the garden path.
If that was the case there wouldn't be a need to ask a question.People should have the feeling of being able to post or ask questions without feeling their every word is scrutinised and open to question. To do that defeats the spirit of contribution.
However, as I am my own person and not of the herd mentality it seems that sits less well with some. No worries ....
In the spirit of contribution, I tend to contribute only to posts where I feel I actually have something useful to contribute. If I don't know enough about the topic I won't contribute.0 -
How do you know I'm correct then?
Precisely - I don't know you are correct. Its a good assumption that you are, unless someone comes along later to suggest otherwise. However, in my own case, what I would do in that case is clarify it with the scheme administrators if I were in doubt.
During my own retirement arrangements 18 months ago I was well versed in the scheme's various rules and policies. Its likely some of those rules and policies have changed since then so my current understanding might not be correct!If that was the case there wouldn't be a need to ask a question.
In which case there would not be a need for the forum .......In the spirit of contribution, I tend to contribute only to posts where I feel I actually have something useful to contribute. If I don't know enough about the topic I won't contribute.
Yes - me too!! However, it seems there are core of peeps who seem to like to telling me my contribution is not useful regardless.
However, I have no difficulty continually persuading said peeps otherwise .... 0
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