Pensions

Most teachers in England and Wales, whether in schools (including academies), sixth form colleges or FE colleges, are eligible to join the Teachers' Pension Scheme (TPS).

When you start a new job always check with your employer or look on your contract to find out about an occupational pension scheme you can join. Pensions provide salary-related, guaranteed, inflation-proofed income in retirement for a relatively low cost to you.

The employer contributes a lot more than the member and you get tax relief on your contributions so the cost to you in real terms is less than the percentage quoted.

Most of these schemes provide a death-in-service payment, dependents' benefits and a guarantee of at least five years' pension payments in retirement.

Most teachers in England and Wales, whether in schools (including academies), sixth form colleges or FE colleges, are eligible to join the Teachers' Pension Scheme (TPS). Teachers in Northern Ireland are in the Northern Ireland Teachers' Pension Scheme (NITPS). Jersey, Guernsey and the Isle of Man have their own pension schemes. You should contact your employer for details.