Teachers pension what to do

Mr_Pegs

jem16 wrote: »

It's not the TPS that offers any enhancement - it's purely down to your employer as it is they who would have to pay for it.

And that is I guess where the problem lies from my perspective. I did ask my HR advisor and was informed the rules don't allow for this reading between the lines he must mean the college rules not TP rules as in the college will not or don't wish to add extra years at their cost.I will ask again tomorrow thankyou

Mr_Pegs

frugal90 wrote: »

I managed to transfer teachers avc with prudential across to interactive investor sipp- so that I will be able to do as Jem has suggested - delay taking the teachers pension for a couple of years. Plan is to use sipp up to personal allowance with 25% tax free on top.

I have read you comments with great interest thank-you. I have checked out the company website.I am sure I will be taking 25% over a 4 year period as Jem mentioned it will suit me. I'm am not one to dismiss comments. I would welcome a private message where I could understand the benefits to me should I transfer to another provider and help in my decision making.

Mr_Pegs

missbiggles1 wrote: »

Surely this should be what your union's negotiating?

My husband got the years he'd contributed from the TPA and then an extra 7 years from the college.

The union have been communicating with members I will raise this with them.

I wish my college were as generous/caring /supportive as you husbands ex college would appear my college are not as I have said before I will re ask the question) thanks for your input appreciated

missbiggles1

hyubh wrote: »

Compensatory Added Years (was historically a thing in both the TPS and LGPS regulations, and in England and Wales at least, CAY payments pertaining to teachers as well as non-teachers are still administered by the LGPS administrator).

That's interesting. My husband's had no contact at all from the LGPS - any queries he phones the college and they also send out monthly pay slips and his P60s.What actual admin does the LGPS do?

hyubh

missbiggles1 wrote: »

That's interesting. My husband's had no contact at all from the LGPS - any queries he phones the college and they also send out monthly pay slips and his P60s.What actual admin does the LGPS do?

Ah, fair enough - if the college was it's own thing rather than local authority maintained at the time the added years were granted it may well pay the money out itself.