Find out about the latest Pensions Increase and other key updates you need to know.
Public service pensions are increased annually by the same percentage as State Additional Pensions (the State Earnings Related Pension and the State Second Pension).
It’s applied in April and is based on the increase in the Consumer Prices Index (CPI) in the 12 months to September of the previous year. The Pensions Increase to be applied is 10.1%, which will take effect from 10 April.
Increases may be proportioned if you took retirement benefits during the Scheme year and may be lower if you've a Guaranteed Minimum Pension and your State Pension Age was before 6 April 2016. This is because increases above 3% are paid by the State via increases to your State pension.
It’s important you understand Transitional Protection, why changes are being introduced and if you’re affected by the changes.
To help you understand if you're affected, we've developed a decision tree, which asks you a series of simple questions about your pension and teaching career and then provides you with the relevant information based on your answers.
Visit our decision tree to understand if you’re affected.
For the latest on Transitional Protection please see the Scheme Changes section of the website.
If you return to pensionable employment within the Teachers’ Pension Scheme, even if you decide not to make pension contributions, we need to know. This is because the Teachers’ Pensions regulations state that the combination of your pension and any contributable salary in the tax year you’re re-employed can’t exceed your index linked ‘salary of reference’.
The salary of reference is the highest rate of salary used in the calculation of your average salary, indexed to the tax year of re-employment.Employers provide your service information to us monthly . This means you’ll only need to complete a Certificate of Re-employment if you’re notified by us.
If you’re informed that you need to complete a form, you can do this through My Pension Online. Failure to complete this form, if requested, could result in an overpayment of pension.Please note a Certificate of Re-Employment doesn’t apply if you’re in receipt of Phased, Early Retirement (Actuarially Adjusted) or career average benefits, unless you’re also in receipt of Age, Premature Retirement, Phased Final (Age) or ‘Additional Service After Retirement’ (ASAR) benefits based on final salary service.
Read our factsheet for more information.
