We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a very Happy New Year. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Teachers' Pensions - Phased retirement and final actual reckonable years service
TonyM19
Posts: 161 Forumite
Hi
Does anybody have any experience with dealing with this? I took phased retirement about 6 years ago and have now taken full retirement. There is a considerable difference between what TP think my final pension should be and what I think it should be (about 6 years service has gone missing). Has anybody had any experience of going through this process and would be willing to talk me through it? TP say they will respond within 20 working days. I'm losing sleep over this and would be grateful if anybody could help out before then
Cheers
Does anybody have any experience with dealing with this? I took phased retirement about 6 years ago and have now taken full retirement. There is a considerable difference between what TP think my final pension should be and what I think it should be (about 6 years service has gone missing). Has anybody had any experience of going through this process and would be willing to talk me through it? TP say they will respond within 20 working days. I'm losing sleep over this and would be grateful if anybody could help out before then
Cheers
0
Comments
-
Do you mean you took all of your accrued Teachers Pension 6 years ago (what you were entitled to 6 years ago) and are now expecting an additional amount relating to what you have accrued working part time over the past 6 years?1
-
I took 25% of my pension as a phased retirement in 2016, which worked out at about 6 years worth. I increased this to 75% in 2019 (worked out at about 15 years worth in total for both steps of phased retirement - they combine the two figures). I have about 31 years final service on the final salary scheme and I'm 62. This includes all the calculations on my reduced days. I think I should have 31 - 15 = 16 years service towards my final pension. They think its 6 years less. I'm trying to work out how they are arriving at this figure0
-
Do you mean, you joined when you were in your twenties? Or (given McCloud) are you assuming additional final salary accrual to 31/03/22 inclusive...?TonyM19 said:I took 25% of my pension as a phased retirement in 2016, which worked out at about 6 years worth. I increased this to 75% in 2019 (worked out at about 15 years worth in total for both steps of phased retirement - they combine the two figures). I have about 31 years final service on the final salary scheme and I'm 62. This includes all the calculations on my reduced days. I think I should have 31 - 15 = 16 years service towards my final pension. They think its 6 years less. I'm trying to work out how they are arriving at this figure0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.8K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 260K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards