Teachers Retirement (Late Career)
Retirement planning webinars for teachers delivered by independent financial advisers that specialise in retirement planning for teachers.
Date and time
Location
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About this event
Our webinars regularly evolve based on the feedback we receive from our delegates as well as ongoing changes to legislation or taxation.
Our presentations are visual and deliver sometimes complex or technical information in simple and plain English.
The main areas this presentation will cover are as follows:
Introduction to Teachers Financial Planning Ltd
Who we are, how we are qualified to help you and how we are different from the likes of Wesleyan, Prudential and St James Place.
Changes to the Teachers Pension, the move to CARE and McCloud
All delegates still teaching will now be affected by the changes to the Teachers Pension in 2015. We cover the main changes in the scheme from Final Salary to Career Average Scheme and the impact of the McCloud judgement on your pension.
Calculating your Teachers Pension, your lump sum entitlement and commutation.
We work through several examples of teachers working both full and part time to normal pensionable age in both Final Salary and Career Average. We calculate the lump sum entitlement and also explore commuting pension income to tax free cash - and discuss the circumstances when this may or may not be appropriate.
The implications and impact of early retirement on your pension.
Having worked through examples of full time and part time retirement at normal pensionable age, we'll look at the impact that fewer years service and actuarial reduction make to retirement income from the Teachers Pension.
Faster Accruals / Additional Pension / Prudential AVCs
Many teachers start to consider boosting their retirement savings as retirement approaches. We look at the current and past options linked to the main Teachers Pension such as Faster Accrual, Additional Pension and the Prudential Teachers AVC as well as the alternatives away from the scheme.
Accessing Your Teachers AVCs
Many teachers with AVCs don't really know how to make the most of them whether that's maximising the guaranteed income available to them, the flexibility of drawdown or the increasing number of hybrid products that allow both. We also discuss an unintended tax quirk that could leave the families of Teachers AVC holders worse off after death.
Phased Retirement
Phased retirement has been an option for teachers for a long time now but we've found that few understand how it works or how it could be relevant to them.
We'll expand on earlier illustrations to show how phasing can work in practice, particularly for those who are or plan to work past normal pensionable age.
Many teachers don't realise the lack of actuarial uplift in the Teachers Pension Scheme can cost them thousands in lost pension income if they work past their normal pension age and phasing can be used in many circumstances to prevent this loss.
Where to focus your attention pre-retirement
We cover when you should you be considering Faster Accruals, buying Additional Pension, Prudential AVCs, saving into ISAs as well as paying off your mortgage or other liabilities.
Death benefits
How much will your husband, wife or partner get from your Teachers Pension if you die? In what circumstances can children inherit a pension?
Retiring with a mortgage
Ideally, you'll be going into retirement debt free but not everyone is that fortunate. We'll look at how products such as Retirement Interest Only Mortgages or Equity Release can be used to clear a conventional residential mortgage to potentially allow you to retire sooner.
Managing your finances into retirement.
How to put an effective and organised structure into your finances for the short, medium and long term to balance the impact of inflationary risk and market risk to get your money working as effectively as possible.
The new State Pension, why as a teacher you will probably get less and how to increase your entitlement.
We cover the State Pension and the impact contracting out will have on many teachers State Pension. We also explain how you can boost your State Pension entitlement and how to explore if it's worthwhile.
Questions and answers
We finish our sessions with the chance to ask our advisers questions and to arrange a follow up with an independent financial adviser as either a one off session or to become a client of the firm.
Frequently asked questions
No, the events are live and we don't provide or allow recordings. This isn't to be awkward, this is due to the significant compliance burden it would cause getting the webinar sessions checked, edited and approved by compliance before release.
No you can access the event by signing into the Eventbrite account that is created when you book. You don't need to download any software to do this and all delegates must be using the same hosting software.
The Teachers Pension has different rules to the Local Government pension scheme. Some of the concepts discussed will be useful but we'd not recommend that you attend this session.
Yes, they can however you'll only be able to sign into one session at a time (you'll need to use the same device to attend the webinar).
We can arrange an initial review session with an adviser to become a client or you can pay for a one off advice session with an adviser but we can't give you personal advice and recommendations in the webinar session (although we will spend some time answering general questions after the event).
Organised by
Teachers Financial Planning Limited FRN 552276 is an appointed representative of Corbel Partners Limited FRN 429142 which is authorised and regulated by the Financial Conduct Authority.
The information contained in these webinars is subject to the United Kingdom regulatory regime and is therefore primarily targeted to consumers in the United Kingdom.
Registered Office: St James Business Centre, Wilderspool Causeway, Warrington, WA4 6PS. Teachers Financial Planning are registered in England & Wales Company Registration Number 07612896. Data Protection Register Number: Z2662669.