When can teachers retire?
Contents
Overview
When can teachers retire might be at the forefront of your mind when approaching retirement age and accessing your pension.
Edapt recommends contacting Teachers’ Pensions directly or using a financial advisor if you have a specific query about your personal arrangements.
You might also be in an alternative pension scheme than Teachers’ Pensions and we would recommend contacting your own pension provider for financial advice.
We have also published a support article which provides an overview of the Teachers’ Pensions Scheme if you need a refresh of how the scheme operates.
In this support article we look at when can teachers retire, providing a summary of information on the Teachers’ Pensions website and link to further information.
When can teachers retire?
Teachers’ Pensions explains that you must have 2 years’ service completed after 5 April 1988 or 5 five years pensionable service completed at any time to be able to receive benefits from the Teachers’ Pension Scheme.
The earliest retirement benefits can be paid is age 55, unless you’re granted ill health benefits.
We have published another support article which provides an overview on the topic of early retirement due to ill health.
Final salary or career average?
Teachers’ Pensions explains your service may just be in the final salary or career average arrangement or a combination of both.
For example, if you’ve completed six months in final salary and then a further 18 months in career average, you will qualify for benefits. If you’ve transferred in from another scheme, this may mean you qualify for benefits.
Please note that the minimum pension age of 55 is set by the Government who have stated that they intend to raise it to 57 in 2028, and then keep it ten years below the State Pension Age.
What is my normal pension age?
Your Normal Pension Age (NPA) depends on which pension arrangement or arrangements you’re in.
Protected members
If you’re a protected member and so will stay in the final salary arrangement, your NPA will be either 60 or 65 depending on when you entered pensionable service.
If you were in service before 1 January 2007 your final salary NPA is 60 provided you’ve not:
- Had a repayment of contributions;
- Transferred the service out of the Scheme; or
- Had a break where you were out of service for more than five years ending after 31 December 2007.
If you entered pensionable service on or after 1 January 2007 or after a break your final salary NPA will be 65.
Tapered members & transition members
As a transition or tapered member, you’ll have benefits in both the career average and final salary arrangements and therefore will have more than one NPA.
Your NPA for your final salary is 60 or 65 depending on when you entered pensionable service.
If you were in service before 1 January 2007 your final salary NPA is 60 provided you’ve not:
- Had a repayment of contributions;
- Transferred the service out of the Scheme; or
- Had a break where you were out of service for more than five years ending after 31 December 2007.
If you entered pensionable service on or after 1 January 2007 or after a break your final salary NPA will be 65.
Your NPA for your career average benefits is either your state pension age or age 65 whichever is the later date.
If you’ve benefits in both the final salary and career average arrangements, your final salary benefits are protected and will remain in final salary.
When you retire we’ll use your salaries earned in career average to calculate your final salary benefits. This is called the final salary link.
If you’ve a break in pensionable service of more than five years then the salary link is broken and Teachers’ Pensions will use the salaries at the time of the break to calculate your final salary benefits.
New members (only in career average)
As a new member to the Scheme in the career average arrangement, your NPA is either your State Pension Age or age 65 whichever is the later date.
When can teachers retire? Further information
The information contained within this article is not a complete or final statement of the law.
While Edapt has sought to ensure that the information is accurate and up-to-date, it is not responsible and will not be held liable for any inaccuracies and their consequences, including any loss arising from relying on this information. This article may contain information sourced from public sector bodies and licensed under the Open Government Licence. If you are an Edapt subscriber with an employment-related issue, please contact us and we will be able to refer you to one of our caseworkers.