Key Benefits

• The Teachers' Pension Scheme (TPS) is a defined benefit contributory pension scheme. It is one of the most important and valuable benefits available to teachers. Your employer makes a substantial contribution towards the cost of your pension.
• The TPS not only provides you with a regular income after you retire, but also provides your family or other dependants with financial protection after you die.
• All teachers and lecturers, both full-time and part-time, are automatically members of the scheme unless they elect to opt out.
• If you become too ill to work, you may receive your pension early.
• You can increase your pension credit by buying extra pension. You may be able to transfer in pension credit from another scheme.
• We will pay a lump sum if you die before you retire and we may pay children’s and dependants’ pensions.
• You can choose to have part of your pension paid as a lump sum if you joined the scheme on or after 1 January 2007.
• If you were a member before 1 January 2007, you will automatically receive a lump sum.
• Your pension is index-linked to protect its value against the effects of inflation.