Lgps and TPS pensions?? Help!

22225

Hello
I currently work part time as a teacher and am in TPS. I have seen a part time advisory teacher job advertised which is on the soulbury scale with LGPS.  I would like ideally to go for this job as well as continue in my teaching job.

Can anyone 'advise' me? I've read that you cant be in both but then what should I do? Is my only option to not pay into one of the pensions? But then I will lose put long term on quite a lot of money.

I have been in the TPS for approx 19 years. I am due to get approx 10k a year from age 60 and a lump sum die to legacy agreements.

I know the schemes have slightly different pros and cons but overall they come out mostly the same. If I left the TPS it would only accrue at CPI not CPI +1.5%.

But my main issue is, what happens if you work 2 jobs and so dont want to miss out on two lots of pension contributions from employers? I say employer contributions but you know what I mean. Is my only option to stay in one scheme and not pay into the other and maybe do my own SIPP???

Please help.
Many thanks

Andy_L

Where did you read you can't be in both schemes? I've never er heard of that befotr

hyubh

22225 said:

Hello
I currently work part time as a teacher and am in TPS. I have seen a part time advisory teacher job advertised which is on the soulbury scale with LGPS.  I would like ideally to go for this job as well as continue in my teaching job.

Can anyone 'advise' me? I've read that you cant be in both but then what should I do? Is my only option to not pay into one of the pensions? But then I will lose put long term on quite a lot of money.

You are ineligible for the LGPS if you are eligible for another public service scheme, such as the TPS, in respect of that same employment. Not if you are eligible for active TPS membership in any employment. (https://lgpsregs.org/schemeregs/lgpsregs2013/timeline.php#r4)

22225

Oh!!!! So I can contribute to both at the same time??????

hyubh

22225 said:

Oh!!!! So I can contribute to both at the same time??????

Yes. Assuming this secondary employment is some sort of job in a state school (including any academy or free school), then if it doesn't come with TPS membership, you should in fact be auto-enrolled into the LGPS for it. 

Universidad

22225 said:

Oh!!!! So I can contribute to both at the same time??????

Not only can you theoretically do this, but I can confirm that my wife currently does. 

daveyjp

"Not be in both" schemes more likely applies to roles where you can choose which pension to be a member of, you need to choose one.

 If you have two roles, one a teaching job in TPS and one in a Council with LGPS membership, you can contribute and have pensions from both.

hyubh

daveyjp said:

"Not be in both" schemes more likely applies to roles where you can choose which pension to be a member of, you need to choose one.

Well, you can't choose between LGPS and TPS for the same employment, it's against the LGPS rules. (The LGPS effectively acts as the default if a state school employee is ineligible for the TPS.)