Please ensure that all invoices issued to you by Teachers’ Pensions are settled by the deadline stated on the invoice.

The options for payment are:-

• Pay as you go, where the refund is made every 3 months based on the payments made in the previous 3 months;
• A one off lump sum basis, where an actuarial calculation is undertaken using factors based on life expectancy provided by the Teachers’ Pension Scheme actuary
• A lump sum basis, where an actuarial calculation is undertaken using factors based on life expectancy provided by the Teachers’ Pension Scheme actuary but the lump sum is paid over a period of two to five years. In those circumstances interest is charged on the total payment.

Failure to pay these invoices promptly can ultimately affect pensioner payments made on your behalf and could result in Pensions Regulator breach reporting for not adhering to scheme regulations.