Teacher pension NPA rules

RQT

Long time reader but first time poster and I'm looking for help regarding the NPA rules for the career average scheme of the teachers pension.

I've only recently started teaching and so all my pension is under the career average scheme, which says I can take my pension (without any actuarial adjustment) at my NPA which is currently 68. What I cannot work out (and I checked the TP website and rang Teachers Pensions without a clear answer) is what will happen if my NPA were to increase before I hit 68.

Hypothetically, let's say the NPA is increased to 70 in 10 years time.

Would I build up two separate pots: one with an NPA of 68 and then a second pot with a NPA of 70 starting in 10 years when the NPA was increased or would it all be in the same pot which I could only take without actuarial adjustment at 70. 

Any help would be greatly appreciated

Dazed_and_C0nfused

Pretty sure you would be able to take it without adjustment at 70 - the scheme is based on the NPA being your State Pension age so if that becomes 70 then that is your new NPA.

sammyjammy

Dazed_and_C0nfused said:

Pretty sure you would be able to take it without adjustment at 70 - the scheme is based on the NPA being your State Pension age so if that becomes 70 then that is your new NPA.

Correct.

OP - as your Teachers pension is linked to your state pension age when one is changed so will the other.  It won't be two separate pensions, if as in example above it changed to 70 you would get your whole pension a 70 and nothing at 68 (unless you took it early for various reasons)

NedS

Don't think of your NPA as a fixed number, but rather a floating target that will move. The only value of NPA that is relevant is the value at the time you reach it (currently estimated to be 68, likely may become 69 at some point and could end up being 70 by the time you get closer. Or not, depending on the policies of the Government of the day).