Teacher Pension flexibilities limit

Geography_rox

Hi,

I just logged on to teacher pensions to sign up for faster accrual as I do every year, however it tells me that I have exceeded the flexibilities limit, which having done some research I see is £6500. Now as annoying as it is that I can't carry on with faster accrual, it's not the end of the world, but I am somewhat concerned about my AAB buyout. I signed up as soon as it became available to take my pension at 65 (instead of 68), and have paid however much every month, but now that I am over the flexibilities limit will I still be able to continue with the buyout or will I now have to retire at 68?

Many thanks

Brynsam

Ask the scheme direct - and get the answer in writing. You should still be able to retire at 65 but it may be that some actuarial reduction will be made - and it's impossible to know what or how much without detailed information, which the scheme will have.

liviboy

ERRBO is given an value when you sign up...so that should
Continue and is likely the reason you’ve reached your limit for additional benefits.