Teachers' Pension Scheme
Your first point of contact for pension queries is Jayne Brown in HR. To contact the pension scheme administrators directly, the contact details are:
Teachers' Pensions
Mowden Hall
Darlington
Telephone: 0845 6066166
Full details of the features of your pension can be found in the booklet sent out with your initial contract of employment, however as a number of changes were made to the pension scheme with effect from 1/1/07 please contact HR if you would like a current scheme booklet. Alternatively you could visit the TPS website.
The key benefits of the scheme are:
- Pension is salary related and index linked from the date of retirement, with no limit on the index linking.
- On retirement you will automatically be paid a tax free lump sum if you joined the scheme before 1/1/07. Joiners after 1/1/07 have the option to convert part of their pension for a tax free lump sum.
- Enhanced pension and lump sum paid early if you have to retire on ill-health grounds, at any age, and pension fully index linked.
- Pension paid to spouse and children if death in service.
Lump sum paid, if death in service, of 3 times salary. eg 3 x £30,000 = £90,000 tax free - Opportunity to buy additional pension, to increase pension and lump sum at retirement. Tax relief is given on these contributions.
- Opportunity to pay additional voluntary contributions (qualifying for tax relief) to secure additional income on retirement.
