Teachers' Pensions
Increasing your pension

Increasing your pension

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The Scheme provides a number of opportunities for increasing your benefits and those of your family. It’s also important to understand which arrangement you’re in as some of the flexibilities are only available to you if you’re in the career average arrangement.

The opportunities available to you are:-

Additional Pension

Buy Out

Faster Accrual

Additional Voluntary Contributions (AVCs)

There’s an overall financial limit to the amount of flexibilities that you can buy (£6,300 in the final salary arrangement for additional pension and £6,500 in career average for overall maximum value of the flexibilities). The limits do not apply to the AVC's.

Increasing your benefits could have consequences in relation to the Annual and Lifetime Allowances. Therefore, before you make your final decision it's a good idea to seek financial advice on the possible tax implications of proceeding with your application.

Last Updated: 11/09/2018 13:10

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