Видео 52
Просмотров 386 302

TPS - Scheme Pays and the Remediable Savings Statements

17:07

TPS - Remediable Annual Allowance Letters

12:28

Disqualifying break - OR NOT?

9:03

TPS - The Remediable Service Statement (RSS)

23:40

Teacher Pay Rise 2024 - Final Salary Pension - Any impact?

9:04

Teachers' pensions - retrospective additional pension

23:09

TPS - The Already Retired and their Remediable Service Statement

Those teachers who retired before they could be given their choices for the remedy period following the illegal transition from final salary to career average pension are now being sent their "remediable service statements".
In my opinion these can be confusing, so I go through one such example and, try to, explain how to get to the figures that matter.
The spreadsheet referred to is here: docs.google.com/spreadsheets/d/1dlQSqgHtxKG9tbPfgA6hU3olxuAljGe8lGqltaf5Vmo/edit?usp=sharing

Видео

TPS - Scheme Pays and the Remediable Savings Statements

17:07

TPS - Scheme Pays and the Remediable Savings Statements

Просмотров 1 тыс.Месяц назад

docs.google.com/spreadsheets/d/10p_NpAHEykYCueN0u5JA4yl6M7DaCwAftyazhQkD4p4/edit?usp=sharing The rollback to the final salary scheme has meant the annual allowance for all of the remedy years have been recalculated. This video explains how to use the numbers and the impact on the pension if one chooses to have the "scheme pay" the tax charge.

TPS - Remediable Annual Allowance Letters

12:28

TPS - Remediable Annual Allowance Letters

Просмотров 1,7 тыс.Месяц назад

Due to the Rollback where the service from 2015 to 2022 has been moved back out of the career average scheme and into the final salary scheme the calculations as to how much income tax relief you may have used have been altered. These letters show you the figures for the remedy years (and some before). Use the HMRC pay linked in the letter to assess if you may need to pay a tax charge, or claim...

9:03

Disqualifying break - OR NOT?

Просмотров 8262 месяца назад

If you are out of the TPS for more than 5 years, returning after 2012, then you could be treated as a "new" member and get a raw deal with your pension. This video explains how what you were doing during such breaks can prevent the break being one that "disqualifies" you from; a) Entering the same scheme that you left b) Using future salaries in working out your final salary pension c) Having 1...

TPS - The Remediable Service Statement (RSS)

23:40

TPS - The Remediable Service Statement (RSS)

Просмотров 2,5 тыс.3 месяца назад

The spreadsheet used in this video: docs.google.com/spreadsheets/d/1vUTAYdbKIdYC-eI3GFPacURUle7vrQ1nkvA1IilsbPw/edit?usp=sharing How to read and extract the useful numbers from the remediable service statement for the teachers' pension scheme.

Teacher Pay Rise 2024 - Final Salary Pension - Any impact?

9:04

Teacher Pay Rise 2024 - Final Salary Pension - Any impact?

Просмотров 3,2 тыс.4 месяца назад

The proposed 5.5% pay rise for teachers in September 2024 does not necessarily mean that it will have any positive impact on the final salary pension. Salaries over the last 10 years have dropped by anything up to 15% in real-terms and as such your final salary pension may actually be losing value despite this latest, above inflation, pay rise.

Teachers' pensions - retrospective additional pension

23:09

Teachers' pensions - retrospective additional pension

Просмотров 8 тыс.6 месяцев назад

Teachers illegally taken out of the final salary scheme between 2015 and 2022 are being given the opportunity to purchase extra pension from that period. This video looks at how that works and compares the costs and benefits of doing it against the alternative of doing it in the current scheme. David is NOT a financial adviser so cannot tell you if this is right for you or not. The spreadsheet ...

Phased Retirement After 60 - Avoid Abatement

11:26

Phased Retirement After 60 - Avoid Abatement

Просмотров 2,7 тыс.7 месяцев назад

Over 60 and not taking the final salary NPA60 pension yet? Take it in full and you will be subject to the rules that limit how much it is allowed to pay whilst still working. Phased retirement MAY offer an option to take it without such restrictions.

Working Over 60 in the NPA60 Final Salary Scheme?

23:58

Working Over 60 in the NPA60 Final Salary Scheme?

Просмотров 4,8 тыс.8 месяцев назад

If you are over 60 and started before 2007 then your teaching pension can no longer be added to, AND it gets no enhancement for being left until later. You WILL be subject to the rules on abatement that limit how much can be paid whilst you are still teaching - but there are often good reasons to consider taking the pension, even if it cannot pay out anything just yet...I explore those reasons ...

TPS - Remedy Protection - Misleading Letters?

12:23

TPS - Remedy Protection - Misleading Letters?

Просмотров 2,7 тыс.8 месяцев назад

Where teachers paid for extra pension between 2015 and 2022, the illegally introduced transition period, they must be offered a refund of the amounts they paid OR take a conversion where their payments are put into additional pension in the original scheme. The initial letters are, in my opinion, grossly misleading and fail to provide data in a form that allows for a meaningful comparison. I ex...

Remedy Offer - Convert or Refund Career Average extras

23:58

Remedy Offer - Convert or Refund Career Average extras

Просмотров 2,7 тыс.9 месяцев назад

My first look at the letters and figures sent out that offer either a refund of your contributions for the flexibilities purchased during the remedy period, or a sum of additional pension added to the final salary scheme. forms.gle/WV7zvtgcFwA8ePbn8

14:28

Early Buy Out

Просмотров 9 тыс.11 месяцев назад

A guide to what is meant by buying out "years"

Identifying a risk to your Final Salary Pension

1:51

Identifying a risk to your Final Salary Pension

Просмотров 7 тыс.11 месяцев назад

If you've been on the same pay scale in the TPS for a while there is a good chance your "final" salary isn't going to be based on your last year! It gets to use salaries from the last 10 years and if your best happens to get too old to be used then that's just tough...or is it? This video quickly lets you work out if you are at risk of losing value from your Final Salary pension and if you are ...

7:41

Rollback TPS - Early Buy Out - TGTBT?

Просмотров 7 тыс.Год назад

There is a possibility that going for the "Buy Out" option if you were one of those affected by the illegal transition between the teachers pension schemes could be a VERY good deal! www.teacherspensions.co.uk/members/working-life/paying-in/increasing-your-pension/buy-out-of-the-standard-actuarial-adjustment.aspx www.teacherspensions.co.uk/-/media/documents/member/applications/managing-your-pen...