Teachers Pension

Lemon_dr1zzle

AlanP_2 said:

cobson said:

Note that you also have the option of taking your final salary pension at 60 and your career average pension at 67, which will then be unreduced.

Can they be split like that in the TPS? They can't in the LGPS.

Yes you can in LGPS 

AlanP_2

Lemon_dr1zzle said:

AlanP_2 said:

cobson said:

Note that you also have the option of taking your final salary pension at 60 and your career average pension at 67, which will then be unreduced.

Can they be split like that in the TPS? They can't in the LGPS.

Yes you can in LGPS 

Not according to the LGPS members website https://lgpsmember.org/arl/already-left-when.php you can't :


Please note that you cannot take your benefits built up to 31 March 2014 separately from the benefits you build up from 1 April 2014. All your benefits must be taken at the same time.

NOTE - This applies to deferred members It may be different for those still in LG employ at NPA for the pre-20214 scheme or pre-2008 scheme. 

hyubh

Lemon_dr1zzle said:

AlanP_2 said:

cobson said:

Note that you also have the option of taking your final salary pension at 60 and your career average pension at 67, which will then be unreduced.

Can they be split like that in the TPS? They can't in the LGPS.

Yes you can in LGPS 

Into the pantomime season already - oh no they can't, assuming you are talking about a flexible retirement (where leaving CARE benefits isn't the only option). A voluntary or redundancy retirement cannot be split.

zagubov

If you claim your final salary pension and want to continue working and paying into the CARE pension, you might end up only doing this on a part-time basis (unless you move to a non-TPS-eligible job).
Your income from a TPS pension plus a TPS-eligible teachers salary can't be greater than your salary of reference, or they will claw it back (known as abatement I think).
I'm not an expert in this so you may want to speak to your union rep or the TPS.
This page might offer more information
https://www.teacherspensions.co.uk/members/once-retired/return-to-work.aspx