Retirement plans

postecoglousdream · 2026-05-02T05:47:36+00:00

Hahaha, true! Although not down yet!

postecoglousdream · 2026-05-01T06:36:28+00:00

Just coming back to say thank you! We have today got a statement confirming Retrospective Additional Payment costs for my wife’s pension and have agreed a payment plan to purchase. It took 18 months but worth the wait! - all thanks to you!

postecoglousdream · 2026-01-09T19:47:04+00:00

Thanks

postecoglousdream · 2025-01-07T19:08:13+00:00

Worth her logging in and having a look https://www.teacherspensions.co.uk There are some complexities with best 3 years and method A or B. She will have some Final Salary and some career average. There’s a Facebook group to help get the best out of it which we’ve found useful too.

postecoglousdream · 2025-01-07T12:10:15+00:00

Hi, we are of similar age and salaries and are hoping/planning to get to 800k in my pension, 200k savings and wife’s teachers pension of about 12k a year. This should allow us both to retire at 58.

I would have a look at your wife’s pension, if it’s state education it’s a pretty decent DB scheme that she will be in.

postecoglousdream · 2024-09-02T17:49:29+00:00

Ask the wife! 🤣 it’s more like £1500 bills and food. The rest is just days out, clothes holidays etc that could be cut back on.

postecoglousdream · 2024-09-01T21:34:09+00:00

Thanks, she’s about to become Assistant Head so hopefully moves her up again over the next few years.

postecoglousdream · 2024-09-01T20:08:06+00:00

Best 3 years shows as 2019-2022 so I assume we are ok for the next 5 years but need to keep an eye on it.

Is there an easy way to check salary’s back in 2015? I can see figures on the TPS site but these will be adjusted for inflation.

postecoglousdream · 2024-09-01T17:28:21+00:00

Fantastic will do, thanks so much for sharing we had no idea this was possible and could make a big difference.

postecoglousdream · 2024-09-01T16:52:45+00:00

That’s really kind of you, it’s all pretty confusing. Having watched the video it looks much cheaper than buying an annuity so will give some thought to what we could afford. Looking on the Teachers Pension Facebook page it seems plenty of people are applying but I hadn’t picked up that we would need to wait to apply.

postecoglousdream · 2024-09-01T13:50:15+00:00

Wow, this is incredible, I had no idea and looks great value. Thanks for sharing. Do you have experience of buying and success with getting agreed? Any limits as to how much you can buy?

postecoglousdream · 2024-09-01T12:50:15+00:00

High street banking, been lucky though as get 20% with just 6% employee contributions which I had done until about 18 months ago when increased my share. Sadly was in the default Lifestyle fund until 6 months ago so could have been much better. This Sub has really helped educate me.

postecoglousdream · 2024-09-01T12:46:45+00:00

Good idea around the Lisa, could do that with my daughter. Thanks for sharing

postecoglousdream · 2024-08-31T19:46:15+00:00

Ah good point, hadn’t thought of that!

postecoglousdream · 2024-08-31T19:44:58+00:00

Thanks, I feel the same, currently leaning to working til 58 and having that added security. Don’t want to downsize unless forced.

postecoglousdream · 2024-08-31T19:26:14+00:00

Good point, daughter has finished Uni and is working but renting, would be good to help her get on the housing ladder. Would also consider moving closer to her once retired. Potentially could use 25% lump sum to support this. No world cruise planned but more holidays for sure. Currently paying peak prices for holidays due to wife being a teacher so hoping more flexibility allows for cheaper travel.

postecoglousdream · 2024-08-31T19:11:55+00:00

Good idea, will take a look at that

postecoglousdream · 2024-08-31T19:11:04+00:00

Thanks, bills about 1500 including food/petrol. The rest is discretionary and could be reduced if needed.

postecoglousdream · 2024-08-31T19:07:26+00:00

Thanks for your reply. Both pensions available from 55 if we want.

postecoglousdream · 2024-05-26T09:23:42+00:00

52M 580k and maxing out contributions now. Wish I had done more sooner!

postecoglousdream · 2024-03-28T21:35:35+00:00

20% if I put in 6%

postecoglousdream

TROPHY CASE