Frequently asked questions: current members
1. What contributions are paid into the teachers' scheme?
2. Can I make contributions to the teachers' scheme from full-time and part-time employment?
3. What happens to my pension when I leave pensionable employment?
4. What can I do if I leave pensionable employment for a temporary period?
5. Can I improve my pension?
6. What is payable upon my death?
7. How long does a transfer of benefits take?
8. What is the effect of a stepping down election?
9. If I retire, what happens to my pension benefits if I decide to return to teaching?
10. When can I have a refund of my superannuation contributions?
11. What happens if an application for transfer of pension credit is made outside the time limits?
As a teacher your contribution is six percent of your gross salary, on which you will receive income tax relief. Your employer's contribution is equivalent to 14 percent of your gross salary.
Back to top
No. From 1 April 2000, a member of the Northern Ireland Teachers' Pension Scheme who is in full-time employment may not contribute to the scheme from a concurrent part-time employment.
Back to top
If you leave pensionable employment there are four options open to you: (a) leave your pension credit in the teachers' superannuation scheme; this is called 'preservation'; These preserved benefits increase in value each year at a rate equivalent to the Retail Price Index (b) transfer your pension credit to another form of pension provision nine ; (c) pay the 'combined contributions' (see question four); (d) if you have not qualified for benefits take a repayment of your pension contributions.
Back to top
There is a facility to pay current added years (CAY). Under this, you pay the full contribution i.e. the combined teacher's and employer's contribution -20 percent. This ensures that the period of absence counts as pensionable service. Further information on CAY.
Back to top
Yes. Provided you will not have more than 40 years pensionable service at age 60, there are three ways in which you can increase your pension by paying extra contributions.
Your employer does not contribute towards the payment of extra contributions.
Back to top
In the event of your death whether you are in or out of service, the scheme may pay pensions to widows or widowers provided you are still legally married at the date of death, children or other dependants, as well as a death gratuity. The teachers' scheme handbook explains in more detail the benefits payable to your beneficiaries.
Back to top
When you join or re-join the teachers' scheme you may apply to transfer pension credit from your previous pension scheme providing it meets HM Revenue & Customs and Department of Health and Social Security requirements. Application for transfer should be made within 12 months of entering pensionable teaching service. The amount of service credited to the teachers' scheme does not always equal that which has accrued in the previous scheme; the sum of money transferred (the Transfer Value) determines the amount of credit which it can buy in the teachers' scheme. A transfer of previous benefits can take up to six months to complete.
More information on transfer of service
Back to top
If you agree, in the interests of the efficient discharge of your employer's function, to step down to a post of lesser responsibility (and lower salary) with the same employing authority, there is a facility whereby your pension benefits can be protected from the full effect of the drop in salary. Within 13 weeks after starting in the post of lesser responsibility you and your employing authority must give written notification to Teachers' Pensions Branch that you have done so.
Back to top
Resuming teaching in the UK, the Channel Islands or the Isle of Man could cause your pension to be suspended, depending on the level of earnings in your new employment. Before seeking or accepting employment you should write to Teachers' Pensions Branch asking for your earnings limit. Employment of a type which would have been acceptable for contributing to the Teachers' Pensions Scheme (if you had not already retired) could also cause suspension of your pension.
Back to top
If you have been out of pensionable employment for one month and you have not qualified for benefits you can take a repayment of your contributions. The amount you will be repaid will be the contributions you have paid into the teachers' pension scheme together with compound interest added at 3 percent per annum. Two deductions are made from the resulting amount. The first is made to pay back your entitlement in the State Earnings Related Pensions Scheme or National Insurance Graduated Pension Scheme, depending on when you undertook your employment. The second is a standard charge for tax at a flat rate of Teachers' Pensions Online
Back to top
The Department of Education has power to extend the time limits in which the application for transfer of pension rights from a previous scheme may be made. But this power is used only where there are sound reasons for doing so. Even where the time limits are extended the member may still suffer considerable loss in terms of the service in the Teachers' Pensions Scheme which the transfer value purchases.
The amount of loss depends on the difference between the person's salary and age while subject to the previous scheme and his salary and age in the Teachers' Pensions Scheme at the time the transfer value is received. The terms under which transfer values are received in schemes funded by HM Treasury are decided by the Government Actuary's Department. The Department has no scope for discretion in this matter.
Top Pension scheme
|
