I am not married and live with my partner, can I provide benefits for them?

Yes, both new entrants and existing members, who are not married or have not entered into a civil partnership agreement, will be able to provide dependent benefits for ‘nominated’ heterosexual and same sex partners. There will be a qualifying period of two years’ pensionable service from 1 January 2007. Existing members will be able to buy in pre 1 January 2007 service for a surviving partner benefit at full cost and this will count towards the qualifying period. The member must nominate his or her partner in a prescribed format and they must complete a joint declaration of partnership.

I have already retired and I am living with my partner, will the surviving partner benefit proposals cover us?

Surviving partner benefits will only apply to members who have been in pensionable service on or after 1 January 2007 and who retire after that date.

How can I find out the size of my pension fund so I can calculate the amount of tax-free cash I can take when I retire?

The actual formula is complex and so a modeller about the tax-free lump sum is available on the TeacherNet website at www.teachernet.gov.uk/pensions and this can be used to model a variety of retirement circumstances.

Has the 15% limit on pension contributions been removed?

The 15% limit has been lifted and has been replaced by an Additional Annual Pension provision so you can buy up to £5,000 additional annual pension. Please see the Additional pension fact sheet. Following changes introduced by Her Majesty’s Revenue and Customs (HMRC) in April 2006, you are able to save in more than one pension scheme at the same time. There is an overall allowance on the amount of money you can save in a year and receive tax relief on your contributions. This is known as the Annual Allowance.

I am an existing teacher, can I transfer my service and contributions to the arrangement for new entrants?

No. The arrangements for new entrants are for those who first enter the TPS from 1 January 2007 and for the future service of existing members who return to the scheme after a break of more than five years.

I am aged 50 and have only been a teacher for 15 years and do not want to retire at age 60, can I continue to work beyond age 60 and accrue benefits in the scheme?

Yes. The scheme rules allow you to work beyond 60 and accrue benefits.

Are the benefits from the new entrant arrangement index linked?

Yes, in the same way as the existing arrangement.

I am an existing teacher and intend to work beyond age 60 and not draw my pension until I am aged 65, will my benefits be enhanced?

No, actuarial enhancement is only available to those who have a Normal Pension Age (NPA) of 65 and continue in work beyond that age. But your pension would be bigger because you would have more service and further salary increases.

I intend to join the TPS on 1 January 2007, will I have to work until I am aged 65?

No, nobody has to work until 65. If you become a teacher for the first time on or after 1 January 2007, you will have a NPA of 65. NPA is the age at which you can draw unreduced pension benefits from the TPS. If you were already in teaching before this date, you will retain a NPA of 60. Having said that you can retire at, before or after NPA, as now.

What will my contribution be from 1 January 2007?

The scheme reforms and improvements mean the contribution payable by members from 1 January 2007 is 6.4%.

I have recently lost my management allowances and I will retire in a few years time. How will this affect my pension?

From 1 January 2007, the calculation of pension benefits will be based on the better of the salary in the last year or the average of the best three consecutive years (re-valued in line with the Retail Prices Index (RPI)) in the last ten years. This will mean that management allowances can still be picked up for your pension calculation if that produces a higher pension than using your actual salary at retirement.

I am a part-time teacher and I have previously decided not to be a member of the TPS, will I be forced to join under the new arrangements?

Existing part-time employment contracts, which are nonpensionable because no part-time election has been made, will remain so until either the individual makes a part-time election or has a change of contract. If there is a change in contract and you do not wish to contribute to the TPS, you will need to formally ‘opt out’ of the scheme. Ask your employer for a form.

What death in service benefits would my dependants receive if I die before I retire?

A death grant of three times your salary will be payable from 1 January 2007, an increase in the current rate of two times salary.