What's Janna worth

3rd June 2005 at 01:00
Janna has been in the Teachers' Pensions Scheme for 20 years and has a final salary of pound;30,000. So under the current rules, her pension would be pound;30,000 80 x 20 = pound;7,500 a year. Her lump sum would be Pounds 7,500 x 3 = pound;22,500. In a 60ths scheme, Janna's pension would be Pounds 30,000 60 x 20 = pound;10,000. She would only have to give up pound;1,875 of it to get the same lump sum as under the current scheme, pound;22,500, leaving her with a pension of pound;8,125 a year.

Subscribe to get access to the content on this page.

If you are already a Tes/ Tes Scotland subscriber please log in with your username or email address to get full access to our back issues, CPD library and membership plus page.

Not a subscriber? Find out more about our subscription offers.
Subscribe now
Existing subscriber?
Enter subscription number

Comments

The guide by your side – ensuring you are always up to date with the latest in education.

Get Tes magazine online and delivered to your door. Stay up to date with the latest research, teacher innovation and insight, plus classroom tips and techniques with a Tes magazine subscription.
With a Tes magazine subscription you get exclusive access to our CPD library. Including our New Teachers’ special for NQTS, Ed Tech, How to Get a Job, Trip Planner, Ed Biz Special and all Tes back issues.

Subscribe now