We’d like to remind all of you who’ve recently enrolled new members into the Teachers’ Pension Scheme about Buy Out.

Members have the option to Buy Out the actuarial reduction that’ll be made to their pension benefits if they decide to retire before reaching their Normal Pension Age. (eg members can buy out 1, 2 or 3 years of reduction depending on their normal pension age). This is a one-time opportunity and must be done within six months of a member first entering the Scheme.

You can find out more about Buy Out on our website.