Working part-time before retirement
Contents:
What happens if I start to work part-time?
How will my pension be calculated at retirement?
Can I decide not to join the scheme?
If I opt out, can I elect to rejoin the scheme at a later date?
What if I am already a part-time teacher?
What happens if I have more than one employer?
What happens if I work full time and start doing additional part-time work?
What happens if I start to work part-time?
- You will automatically be a member of the scheme and pay contributions.
How will my pension be calculated at retirement?
- The full-time equivalent of your salary and your actual service will be used
Can I decide not to join the scheme?
- Yes, but think carefully before you reach this decision as this would mean you would not receive any pension, nor would your dependants receive any death benefits.
- You will need to complete an opting out election form and send it to Teachers’ Pension via your employer.
If I opt out, can I elect to rejoin the scheme at a later date?
- Yes, but you will not be able to cover your absence from the scheme.
What if I am already a part-time teacher?
- If you start a new contract on or after 1 April 2007, you will automatically become a scheme member.
- If you do not change your contract and have not previously elected to join the scheme, you will not automatically become a scheme member, but you can still join by making an election now or at any time in the future.
What happens if I have more than one employer?
- All your service is added together provided it does not amount to more than full-time service.
What happens if I work full time and start doing additional part-time work?
- The additional part-time service or salary will not count towards pension benefits.
- You should not pay contributions on this part-time service but you will need to confirm this with your part-time employer if different from your full-time employer.
