Organization : Scottish Public Pensions Agency (SPPA)
Type of Facility : Teachers’ Pension Scheme 2015
Country: Scotland
Website : https://pensions.gov.scot/other-schemes
My Pension Online Access : http://www.sppa.gov.uk/index.php?option=com_content&view=article&id=724&Itemid=1441
Teachers’ Pension Scheme :
Teaching in Scotland gives you access to a good quality pension scheme offering benefits at retirement and protection for your family.
Related : Scottish Public Agency Firefighters Pension Schemes United Kingdom : www.statusin.org/26012.html
This website will help you find information about the benefits of membership, including a guide to the scheme and video along with more detailed factsheets, Q&As and some of the administrative forms you might need.
You can navigate the site manually using the tabs and links provided or you can use our short cut – What does it mean for me? – to go straight to information relevant to your situation.
To access your personal details, including your latest benefit statement, logon to MyPension your online service.
Joining the scheme:
You will join the scheme automatically if you are employed as a full or part-time teacher, or lecturer, (even if you have retired), you’re between the ages of 16 and 75, and you work in either:
** an establishment maintained by a local authority or grant aided by the Scottish Ministers; or
** an independent school or a further or higher education establishment that’s been accepted into the Teachers’ 2015 scheme.
You may also be a member of the scheme if you were previously in the Scottish Teachers’ Superannuation Scheme.
How much will I pay?:
The amount you pay depends on how much you earn. The current rates for 2015 are shown the table below. These rates are before tax relief and as your contributions are deducted from your pay before tax is applied the real cost to you will be less than this. If you work part-time you will only make contributions based on your part-time pay. Your employer also pays into the scheme on your behalf.
Retirement:
When you retire you will receive a pension based on your earnings throughout your career and while you were paying into the scheme.
Each year you will earn a pension equal to 1/57 of your pensionable pay. So long as you are still paying into the scheme this will be revalued every year in line with increases to the Consumer Prices Index plus 1.6%.
You can find out more by watching the video. Or downloading our summary ‘How does CARE work?’
Your pension is payable at your normal pension age which is the same as your State Pension age. Your normal pension age is simply when you can take your beenfits in full, but you can retire earlier.
The scheme also provides benefits for your family if you die leaving an adult dependant or children. These pensions ignore any tax-free lump sum taken at retirement.
You can pay more and increase your benefits by up to £6,500. There are three ways to do this:
** Buy additional pension.
** Grow your pension at a faster rate (known as faster accural).
** Elect to buy out the standard early retirement reduction.
You can do a combination of all three – details are given below and factsheets are available. We will continue to update this website but in the meantime, if the factsheet you require is not available here, please contact SPPA.
Leaving the scheme:
In this area of the website we explain what happens if you leave the scheme before you retire.
When working how much service you have built up, remember to include any membership you have earned in the Scottish Teachers’ Superannuation Scheme.
If you have transferred in benefits from a previous scheme you will automatically be treated as having completed more than two years’ service.
Family benefits:
As well as providing you with an income in retirement, membership of the scheme also provides valuable protection for your dependants. In this area of the website, we explain what these benefits are if you die before retiring. Please make sure we are aware who you would like us to consider for receiving any lump sum benefits by completing a nomination form and keeping this up to date.
If you are not in a legally recognised relationship, you can nominate your partner to be treated as your spouse by signing and completing the nomination form on the right.