Members of the Teachers' Pension Scheme can increase their pension benefits through Flexibilities that allow them to purchase either Additional Pension (Final Salary and Career Average arrangements), Faster Accrual (Career Average only) or through the Buy-out of the standard rate of actuarial reduction (Career Average only). The amount of extra pension available, separately, in each arrangement is a fixed amount, but is increased each Scheme year in line with Pension Increase.

For the 2019-2020 Scheme year the Pension Increase is 2.4%, and therefore the maximum amounts will be:

Career Average arrangement: £7,000
Final Salary arrangement: £6,800

We’ll process any election received, but due to the ongoing legal case in connection with the way Scheme Reform was implemented in April 2015, the election may need to be amended at a future date to align with the agreed benefit structure / scheme valuation. How it will be amended is dependent upon the outcome.