Academies are required to offer the Teachers’ Pension Scheme (TPS) to all teachers and the Local Government Pension Scheme to support staff.
For teachers, any period out of service could have an effect on your pension benefits. Wherever there is a break in service, teachers’ pensions will, on retirement, undertake a ‘hypothetical calculation’ of pension benefits.
A record of your pensionable service (previously known as reckonable service) in the TPS is compiled throughout your teaching career by teachers’ pensions from annual returns submitted by your employer. It is therefore important that you keep all your pay slips in case there is any dispute as to your pensionable service when you eventually retire.
Errors made when recording service are the exception rather than the rule though, and mistakes can normally be rectified if you can produce your pay slips as evidence. You should, as a matter of course, check your annual benefit statements from teachers’ pensions; this is particularly important if you work on a part-time basis.
Pension benefits are based on your total pensionable service in years and days.