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Should I stay in Teachers Pension?
Comments
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I'll swap, I will pay you £250 and I will take your pension when in payment!0
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Partaloa38 wrote: »I am 53 and just secured a permanent teaching position. The question: should I continue to pay into the teachers pension? It is a whopping£250 a month but I have a LGPS pension that I had paid into for 26 years previously which in theory I can take at 55. I know after 3 months I can't get any Teachers Pension refunded so I'm just wondering what the best thing is to do. Any thoughts. I will also have a full state pension when I'm 67. :rotfl:
This question is a prime example of why we need financial education to be taught in schools. I can only hope you aren't going to be responsible for doing so! Seriously, I wish you every success in your new career, but get a grip on just how much a decent pension costs. You've had a sheltered life so far with the LGPS and your trip down Reality Lane is a lot gentler than many of your age.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
Think of pulling out as accepting a significant pay cut and its a slightly easier decision to make.0
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No wonder that the graduates I get after their education are not financially astute when it comes to pensions if this op wants out of the TPS scam!0
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Gift horse? Mouth?
I pray you're not teaching maths or economics."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
I'm shocked when anyone opts out LGPS or TPS.0
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Speaking as a taxpayer, I strongly recommend that you opt out! ��0
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