Teachers’ Pension Scheme
The Teachers' Pension Scheme (TPS) is a large public sector pension scheme designed especially for teachers and lecturers across the UK.
The Teachers' Pension Scheme is a defined benefit final salary pension scheme organised by Teachers' Pensions (TP) for the government Department of Education.
As a teacher or lecturer your employer will normally make a contribution towards your pension scheme and you will receive a lump sum and a regular income once you retire as well as benefits to dependents should you pass away early. As a member of the Teachers' Pension Scheme you will be entitled to receive your pension early should you become to ill to work.
If you are a teacher or lecturer in the UK you will normally be automatically enrolled in the Teachers' pension scheme, but you may choose to opt out should you so wish.
Whatever type of pension scheme you are part of you may wish to combine it with additional contributions through a stakeholder, personal or self invested personal pension (SIPP).
For a full pension review, and for advice on the best pension options for your needs speak to an independent pension advisor and receive impartial advice and a free initial consultation.
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