Pensions Increase

The annual pensions increase this year was 1%, effective from 10 April 2017.

Career Average arrangement revaluation 2017

Accrued earned pensions in the career average arrangement of the Teachers’ Pension Scheme will be revalued with effect from 1 April 2017 by 2.6% for active members of the scheme and by 1% for deferred members.

Maximum Extra Pension (Pension Flexibilities)

For the 2017-2018 scheme year the Pension Increase is 1%, and therefore the maximum amounts will be:

Career average arrangement: £6,600

Final salary arrangement: £6,400

Restricted Salary Provision – Final Salary

If the pensionable salary in the final three years of pensionable employment was increased by more than £5,818 or 10%, the increase in that salary or salaries will be restricted to £5,818 or 10%, whichever is the higher.

This had been rounded to the nearest £100 in previous years, but this is no longer in the regulations.

Child Pension – Maximum Remuneration from Vocational Training

Children remain eligible to receive a child pension if they’re under the age of 23, are in full-time vocational training (of not less than 2 years’ duration) and not paid more than £3,113 per annum.

Should members query or require any further information regarding these changes then we would suggest signposting them to the Updates section of the website.