If you’re in the Scottish Teachers’ Pension Scheme, your normal pension age is linked to your State Pension … If you are considering retirement options the following information will help you have an idea of what your pension will look like: Please see the advice from SPPA here. Or recover forgotten username It will give you an indication of the single payments or monthly contributions you'd have to pay to get the extra pension … It’s calculated using the better of the average of your best consecutive three years re-valued salaries in your last ten years of service or your last recorded 12 months of pensionable service before your retirement. for 1+3, enter 4. Â, Download the Additional Pension Calculator. your pension contributions plus interest of 3% per annum to date of death. Cookies are files stored in your … There are currently two occupational pension schemes for teachers in Scotland, the Scottish Teachers' Superannuation Scheme (STSS) and the Scottish Teachers’ Pension Scheme 2015 (STPS 2015). Warning: the factors used on the calculator are subject to change, we apply the up-to-date factors at the time of application so your estimate may vary from the estimate provided by the calculator. SPPA works with a number of key suppliers to provide the payment and administration of pensions across NHS, Teachers, Police and Fire. Please be aware that any results you come up with are for illustrative purposes only. It will give you an indication of the single payments or monthly contributions you'd have to pay to get the extra pension amount you require. NHS Pension … If youâre an active member of the Scottish Teachersâ Superannuation Scheme or the Scottish Teachersâ Pension Scheme 2015, youâre able to buy Additional Pension to top up your retirement benefits. The calculator and supporting documentation can be found on the SPPA website . Do not apply for retirement … The Basics of Plan Membership How We Calculate Your Pension You qualify for an unreduced retirement pension when you reach your 85 factor (age + qualifying years = 85), or at age 65. The calculator displays an illustration of your accrued benefits under i) the current scheme arrangements; ii) the reformed scheme arrangements and iii) the sum of the current and reformed benefits to show an illustration of your total pension entitlement. If you are applying for ill health retirement… Your lump sum amount and basic pension amount should you retire early. The final and definitive calculations will be performed by the Teachers' Pension … If you indicate the birthdate of a beneficiary, the calculator will also estimate survivor options for that beneficiary. Recap on new Pension Arrangements Prior to the pension changes being announced in 2012, in general terms, officers would have either been in the 1987 Police Pension Scheme (PPS) or if they joined after April 2006, the New Police Pension … Enter your User Name and select your preferred password recovery option to reset your password. To work out how much it's likely to cost to purchase Additional Pension use our handy calculator. The calculator allows you to vary your retirement age, which allows you to see the impact on the illustrated benefits if you decide to retire at a different point in time, with estimated early and late retirement … Without it you will experience limited functionality. How to apply. If statement details are not correct you will need to contact SPPA … These schemes are administered by the Scottish Public Pensions Agency on behalf of Scottish Ministers. Most teachers begin taking their retirement benefits at normal pension age. Your full basic and lump sum pension for comparison. Our useful pension calculators are designed to help you estimate the value of the benefits you're likely to receive when you retire from teaching in Scotland. Early Retirement Reduction Buy Out (ERRBO), Special class members and Mental Health Officers, Special Class and Mental Health Officer FAQ, Protection of Pay and Voluntary Protection of Pay, NHS (Scotland) pension schemesâ death benefits, Resource account calculator (Protected members), Resource account calculator (Unprotected members), Teachers Early Retirement Reduction Buy Out (ERRBO), Pension estimates and annual benefit statements, Joining the Scottish Police Pension Scheme 2015, Opting out or leaving the police pension scheme, Legal Aid (Scotland) Pension Scheme post 2010 Section, Legal Aid (Scotland) Pension Scheme pre 2010 Section. See note 3 on page 42 for Teachers’ and page 41 for NHS. If you are classified as a high earner and have … Recover your username by entering your unique personal information: Recover your username by e-mail * Find out more about the SPPA … The percentage rates of contributions paid can be found within the actuaries report, see pages 15 and 16 for Teachers’ and page 16 for NHS. You should complete and return the relevant application form to SPPA at least three months before your intended retirement date: Retirement benefits application form. For the Teachers’ Pension Scheme, from the tax year 2016/17 onwards, the PIP runs from 6 April to 5 April each year and any growth in your pension … It will then predict the likely value of your pension and any lump sum on any retirement date selected by you. Your full pension which has been reduced to take into account that you are retiring early. This is known as the Pension Input Period (PIP). The Teachers' Pensions Scheme pays teachers a retirement income based on their earnings during their career. The scope of our audit was set out in our Annual Audit Plan … If you're a deferred member who has left pensionable employment this calculator does not include Pensions Increase (usually Consumer Price Index). ... Use our pension calculators to build a financial picture for your retirement. SPPA Reference Number – this will be quoted on any previous correspondence you have received from Scottish Public Pensions Agency. E.g. It's a Microsoft Excel file and covers the needs of most* members of the Scottish Teachers’ Superannuation Scheme and the Scottish Teachers’ Pension … If you’re an active teacher, you can check up on your Annual Benefit Statement, update your personal details, and access a range of tools and calculators. Obtain your annual benefit statements from the SPPA website by clicking here. JavaScript is required for the best user experience. JavaScript is required for the best user experience. Solve this simple math problem and enter the result. Scottish Public Pensions Agency (SPPA ), NHS Pension Scheme (Scotland) (NHSPSS) and Scottish Teachers’ Pension Scheme (STPS). Pension tax relief calculator Pension tax calculator Income drawdown calculator. User Name. Pension Calculator; Pension Timeline . SPPA … The percentage of your unreduced pension (both basic pension … The accounts are published on SPPA’s website at: Scottish Teachers’ Pension Scheme. Calculators estimate the Maximum Option for retirement available to members of the Teachers' Pension and Annuity Fund (TPAF). This means we don't apply any reduction factors when calculating your basic annual pension. The TRS pension calculator is an educational tool designed to help members, who are more than 5 years from retirement, estimate their monthly benefit for service retirement. Pension Scheme Registry Number 10005209 (2010 scheme and earlier); and 10276733 (2015 scheme) We are using cookies to give you the best experience on our site. Find out how it works - and how much you'll get. You'll also be able to estimate the cost of purchasing additional pension. The Scottish Public Pensions Agency (SPPA) administers pensions on behalf of the Scottish Government for Teachers, the Police and Firefighters as well as for employees of the National Health Service in Scotland. Scottish Public Pensions Agency ‘My Pension’ is the easiest and most convenient way to access a range of information regarding your pension benefits at a time that suits you. We’ve got lots of calculators to help you with your pension planning sums. Technical support: Note that the downloadable Microsoft Excel file does not have a digital signature and may be unavailable to some users due to security reasons. Scottish Government |Â Riaghaltas na h-alba | gov-scot. The growth in pension savings is measured against the Annual Allowance (AA) in each tax year. Take a look today to plan and set goals for your future. Early Retirement Reduction Buy Out (ERRBO), Special class members and Mental Health Officers, Special Class and Mental Health Officer FAQ, Protection of Pay and Voluntary Protection of Pay, NHS (Scotland) pension schemesâ death benefits, Resource account calculator (Protected members), Resource account calculator (Unprotected members), Teachers Early Retirement Reduction Buy Out (ERRBO), Pension estimates and annual benefit statements, Joining the Scottish Police Pension Scheme 2015, Opting out or leaving the police pension scheme, Legal Aid (Scotland) Pension Scheme post 2010 Section, Legal Aid (Scotland) Pension Scheme pre 2010 Section. There is a risk that if any of SPPA’s key suppliers has financial or service delivery concerns, pension … The file type also may not be compatible with devices that don't support Microsoft products and may not work if you don't have access to an application that can read this type of file. The average salary is used to calculate your final salary benefits when you retire. Solve this simple math problem and enter the result. If you have any issues with the Scottish Teachersâ Additional Pension calculator, please contact us. Important: The following benefit formula applies to all state employees and teachers who became members of the Employees’ and Teachers’ Contributory Pension … E.g. Scottish Government |Â Riaghaltas na h-alba | gov-scot. You may use this calculator far in advance of your retirement to help you develop your personal retirement strategy by experimenting with various retirement … Without it you will experience limited functionality. If you’re an active member of the Scottish Teachers’ Superannuation Scheme or the Scottish Teachers’ Pension Scheme 2015, you’re able to buy Additional Pension to top up your retirement benefits. For the Scottish Teachers’ Superannuation Scheme, normal pension age is either 60 or 65 depending on when you joined the scheme. 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