Starting over 2017

Dorastar

No worries, it's because I started so early the scheme I am in is calculated on the best 3 years out of my last 10 teaching so as I have moved from a HT role into class teaching I have already had my best 3 years at a much higher level. If I opt-in I am effectively cutting my nose to spite my face as technically I have another 19 or so years to go and my best 3 years would be significantly reduced. My lump sum and pension after 25 or so years are good and I am effectively 'banking' them. I am saving some money each month in an ISA instead. If I go into a higher paid leadership role again I can opt back in and put AVCs in to make up any missing years if I choose to.

The scheme has changed significantly over the years, younger teachers are on a much less generous scheme overall and lots are opting out because they have student loans to pay off and teaching is less and less a career for life sadly.

Igamogam

I see. Makes sense I guess. I am in a final salary scheme and hopefully plan to go early and then top up income with a bit of supply work...but as a TA!!Lots of colleagues doing it.It is weird to welcome them back into the classroom as TAs

I am not sure how I feel about young teachers - teachers pay is not that great in the early years so student loans shouldn't be that much of a burden although living costs in some parts of the country must be crippling However, the calibre of trainee coming through now is poorer year on year, sadly. We have had some fabulous dedicated students through, but they are becoming few and far between and as the universities dont like failing we are seriously considering not taking students next year.

beanielou

Igamogam wrote: »

I see. Makes sense I guess. I am in a final salary scheme and hopefully plan to go early and then top up income with a bit of supply work...but as a TA!!Lots of colleagues doing it.It is weird to welcome them back into the classroom as TAs

I am not sure how I feel about young teachers - teachers pay is not that great in the early years so student loans shouldn't be that much of a burden although living costs in some parts of the country must be crippling However, the calibre of trainee coming through now is poorer year on year, sadly. We have had some fabulous dedicated students through, but they are becoming few and far between and as the universities dont like failing we are seriously considering not taking students next year.

Blimey, that is scary.

Dorastar

Lots of house tidying today because it's been cool enough to actually do something! Bought a book to help me with my teaching next year as I'm working with a different year group. Can't believe how untidy it can get in such a short space of time!

beanielou

Dorastar wrote: »

Lots of house tidying today because it's been cool enough to actually do something! Bought a book to help me with my teaching next year as I'm working with a different year group. Can't believe how untidy it can get in such a short space of time!

It certainly gets untidy very quicly here too very quickly.
I blame the cats!

Dorastar

Had a lovely few days away for our 25th wedding anniversary, and some money from parents to spend on ourselves guilt free which was nice. Back to reality today with a trip to dentists and a lot of 'stuff' to do for church event tomorrow. Had forgotten I'd booked us tickets to see War Horse tomorrow night, cheap ones obviously, but a bit worried we'll all be too tired to enjoy it now!
Hopefully after tomorrow we've got a bit of time to relax!

Dorastar

Got a new bank card this morning and paid in a cheque that was an anniversary present. Managed to get a menu plan and food shop done for under £60 for the week which isn't bad considering the boy is currently eating us out of house and home!

Been relaxing the rest of the day aka napping on and off and watching rubbishy TV and working out the finances for the next few weeks. Need to update signature with latest amounts as we've had to use some of 3 month fund recently, and can't wait for the last little bit of the bank loan to be paid off mid-August. Will be really pleased just to have the one loan left to pay off.

beanielou

Great news on nearly one loan left!

Dorastar

Isn't it, ridiculous really that since I left my HT role 2 summers ago we will have paid off just over £14k of debt by mid-August!

beanielou

Dorastar wrote: »

Isn't it, ridiculous really that since I left my HT role 2 summers ago we will have paid off just over £14k of debt by mid-August!

It is awesome:D