Errors in teachers service records can result in them not being paid the correct pension amount
Sarah McGarr is a 32-year-old assistant headteacher. She’s been working in schools for over a decade, but two years ago, when planning for the arrival of a baby, she spotted an error that could have cost her tens of thousands of pounds in retirement.temporarily, as she wanted the extra money for her new born and some house renovations.
The Teachers Pension Scheme is a ‘defined benefit’ scheme, which means for each you work you are given a set amount of cash each year in retirement. Teachers get 1/57of their pensionable earnings each year in retirement, meaning a teacher on the average classroom salary of £39,000 would get £684 – in today’s money – for every year worked.
After seeing the error, Ms McGarr was told to get in touch with her old employers to fix the issue. The TPS says on its site that missing service is usually caused by details not having been provided correctly to it, which can often be an error on behalf of the school or local authority.
Belgique Dernières Nouvelles, Belgique Actualités
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