Teacher Pension Schemes Explained- After 2013
Did you join the public sector after the 1st of January, 2013? Well, if you did, I’m here to give you some information on your pension scheme and how it works.
Your pension scheme is very different to the three other pension schemes for public sector workers that came before yours because up until now all other pension schemes were based and calculated on your final salary.
However, for you and your pension, it’s actually going to be on effectively a career average pension because in each year that you work, a small portion of your income is set aside to provide you with a pension scheme at retirement.
Your normal retirement age is linked to state pension age, which at the moment is 66.
