Salaries & Pensions
Calculate what your present salary should be by following this link: http://www.teachers.org.uk/node/13063
1.) If you entered service before 1st Jan 2007 use the following formula to work it out.
Annual pension = 1/80 x average salary x pensionable service
Tax free lump sum = 3/80 x average salary x pensionable service
Average salary means over the best successive 365 days of reckonable service during the final three years of service.
Pensionable service means the whole of service calculated in years and days.
2.) If your maths not up to it, or you started service after the above date, then visit the Teacher's Pensions website at www.teacherspensions.co.uk and follow the links. You will need your Teacher's Reference No. (can be found on your payslip) and your National Insurance Number. The forecast is usually out of date and they will plead that they have not yet been fed up to date information from the LEA.