Protect the pre-pensioners

4th July 2003 at 01:00
THE enormity of the impact of a 25 per cent reduction can only be appreciated after doing one or two calculations.

A 50-year-old on pound;28,000pa who still wanted to retire at 60 with comparable benefits would have to save an extra pound;500 a month! The corresponding amounts for a 40, 30 and 22-year-old would be pound;200, pound;100 and pound;50 respectively.

A final irony is that the pension rules would only allow them to save an extra pound;200 a month in additional voluntary contributions.

I worked in financial services for five years and learned the importance of long-term planning to achieve a decent pension.

However, it would be immoral to impose changes on older teachers for whom long-term planning is not possible.

I hope the working party will re-think their proposals and will drop changes to the pension rules for existing teachers. If they do go ahead with changes it is vital that they take into account the exponential effect of age as illustrated by the figures above.

Paul Tomlinson 36 Kilmiston Drive Portchester Fareham, Hampshire

Log-in as an existing print or digital subscriber

Forgotten your subscriber ID?


To access this content and the full TES archive, subscribe now.

View subscriber offers


Get TES online and delivered to your door – for less than the price of a coffee

Save 33% off the cover price with this great subscription offer. Every copy delivered to your door by first-class post, plus full access to TES online and the TES app for just £1.90 per week.
Subscribers also enjoy a range of fantastic offers and benefits worth over £270:

  • Discounts off TES Institute courses
  • Access over 200,000 articles in the TES online archive
  • Free Tastecard membership worth £79.99
  • Discounts with Zipcar,, Virgin Wines and other partners
Order your low-cost subscription today