Answer:

If you're over 55 you can choose to continue to work and receive part of your benefits.

The minimum pension age is changing from 6 April 2028, when it will rise from age 55 to 57. Find out more about what this means in our Early Retirement section

To be eligible to take phased retirement you must have a reduction of at least 20% in your pensionable earning in the previous 12 months. You could do this by reducing your working hours or by taking on a post of lesser responsibility. You must make your application within three months of the salary reduction taking effect, but you can make your application three months before the reduction takes effect provided your employer can provide the salary information.

In the career average scheme you can take three Phased Retirements before finally retiring but only two of your Phased Retirements can be before age 60.

If you have benefits in more than one scheme you can choose to take different proportions of your final salary and career average benefits.

You can take up to a maximum of 75% of your retained benefits at each phased application stage.

• Download our Phased Retirement factsheet to find out more


• Watch our Phased Retirement video to learn more about the process.

Answer:

The government believes that the proposal that anyone who remains in service from 1 April 2022 will do so as a member of their respective reformed career average scheme is right and ensures equal treatment in terms of Scheme membership. Some individuals may be better off in the career average scheme, therefore putting everyone back into the old schemes would mean that some members may be made worse off. Providing the choice means that individuals can receive Scheme benefits that are best for them.

Answer:

For those who moved from the final salary scheme to career average scheme on 1 April 2022, you'll have seen that change to your pension from then.

For those of you who are in the career average scheme when you come to take your retirement benefits, we'll provide you with information to make your choice (Deferred Choice Underpin) from 1 October 2023.

As we'll have to contact all members affected by the remedy from this date, please bear with us as it's likely to take some time to reach everyone.

For those of you planning to retire, you can claim benefits based on which arrangements you're in. When we contact you, you may wish to take the alternative scheme benefits for the remedy period. If so, we'll apply the changes retrospectively, from the point they should have been paid.

Answer:

It's important to remember that the period of service affected is that between 1 April 2015 and 31 March 2022. This is known as the remedy period.

As, for many members, the career average scheme is more beneficial, you'll be given the opportunity to make a choice at retirement as to whether you wish to take final salary, or career average scheme benefits in respect of your service during the remedy period. It cannot be a combination of the two. This is referred to as the Deferred Choice Underpin (DCU). We'll provide information to enable you to make an informed choice based on what best suits you.

Answer:

The legislation required to comply with the Transitional Protection remedy, as per the government's consultation response, is being rolled out in two stages.

The first stage was to introduce the Public Service Pensions and Judicial Offices Act 2022. This Act legislates how the government will remove the discrimination identified by the courts in the way that the 2015 reforms were introduced for some members. The Act also sets out that from 1 April 2022 all those in service in the main unfunded public service pension schemes, including the Teachers' Pension Scheme, will be members of the career average schemes, ensuring equal treatment from that point onwards.

Stage two has addressed the different treatment of members between 1 April 2015 to 31 March 2022 (the remedy period) and will be implemented as of 1 October 2023. Phase two will return transition members' service to the final salary scheme for the remedy period and allow members to make the choice between final salary and career average pension benefits for that service.

Answer:

Excess service is when you've a full-time contract and an additional part-time contract(s) during the same period. There are different rules depending on which scheme you're in:

• Final salary - any member who has a full-time teaching contract and an additional part time contract(s), will be considered as having 'excess service'. Excess service isn't pensionable in the Teachers' Pension final salary scheme but may have been eligible in the Local Government Pension Scheme (LGPS).


• Career average - excess service is pensionable in this scheme. Service from 1 April 2022 isn't affected by these changes, however the rollback of remediable service from career average to the final salary scheme on 1 October will need to be addressed.

For more information, please see 'Why am I affected by excess service?'

Answer:

If you leave your pension benefits in the Scheme, they'll be index-linked from the date you leave.

If you have career average benefits, they'll be increased each year by the amount in the Treasury Order each year. If you return to pensionable employment any future career average benefits earned after your return will increase by Treasury Order plus 1.6%, as long as you remain in service.

If you return to service having been out of service for five continuous years or less, your previous benefits will also increase by Treasury Order plus 1.6%. If you're out of service for more than five years your previous benefits will continue to be increased by Treasury Order only after your return to pensionable employment.

If you check your Benefit Statement, you'll be able to see year on year the value of your pension.

Answer:

The maximum total pensionable employment that can be used in the calculation of final salary pension is 45 years. This restriction doesn't apply in the career average scheme.

If you continue teaching after your 75th birthday, any service after that date is not treated as pensionable but your retirement benefits are payable from your 75th birthday.

Answer:

Following the Transitional Protection changes, the final salary scheme closed for new contributions on 31 March 2022. This means regardless of what scheme you were in before your break or your length of time out of service, your new benefits will build up in the career average scheme. (There'll still be a final salary link if your break was less than five years).

Answer:

Normal Pension Age is the age at which you can take the benefits, without any adjustments made to the annual pension. Please see our 'Planning retirement' section for more information.

Depending on the period over which the original pension benefits were built up, there may be more than one NPA applicable to your pension.

In addition, you may have benefits in both the final salary and career average schemes. This will be confirmed in the benefit statement. For more information on the different schemes and NPA, please check the 'Working life' section of our website.