The consultation document Modernisation of the Teachers' Pension Scheme proposes to change the 180th system to a 160th system. This seems good as a new entrant to the profession can accumulate a full pension entitlement in just 30 years' service. Fantastic, because 40 years in the classroom is simply not possible for most teachers: we are worn out well before then.
I am 47 years old and have been teaching for 22 years. I understand that I am expected to work until I am 62.5 years old before I will be able to draw a full pension. With the added years already purchased, I would have made a total of 42.5 years worth of contributions.
Not only will I have paid 12.5 years more contributions (10 if they stop at age 60) than a new entrant, but I will also suffer a fall in the number of benefits the current scheme offers, particularly enhancement and an early pension if I retire early due to moderate ill-health.
This must be an oversight which shows the need for a fairer means of transfer to the revised scheme for longer-term members.
Hugh Strafford Tipsy House Drunken Drove Great Massingham, Norfolk