NEU members can benefit from pre-retirement planning advice. This maybe some time off for you although teachers are used to planning! Pension and retirement changes are coming into place very soon. The NEU were successful in protecting the pension rights of teachers aged 50.
Currently, teachers at the age of 50 as of the 1/4/12 will receive 1/80th. Teachers at the age of 55 as of the 1/4/12 will receive 1/60th. However, anyone around the age of 49 during this time, will go through a transition into the new scheme.
As you might expect, we are expecting a lot of questions from September!
The Union cannot offer financial advice but we highly recommend Vicki Hubbard:
Vicki Hubbard DipFA
Financial Planning Consultant (FCA ref VXH20292)
0800 849 1279 | M. 0787 3781032
She can work through your figures and give advice on scheme benefits and what your options are re The Hutton Report proposals, sick pay, ill health, retirement and death benefits and financial planning considerations within your pension scheme.
Best of all she is able to offer complementary initial meetings and will visit staff individually or come into your school and speak to all staff (including additional meetings for Support Staff)