Teachers to benefit from new stakeholder pension scheme

Tens of
thousands of teachers will benefit from the Teachers’ National Stakeholder
Pension Scheme, which has just been launched.

The scheme,
set up by 15 teaching associations under the TUC’s Stakeholder Pension Scheme,
is designed to supplement the benefits of teachers earning under £30,000-a-year
on the existing Teachers Pension Scheme.

“The
teachers’ National Stakeholder Pension Scheme will help many teachers save in a
cost-effective way for a more comfortable retirement. It can also be of
particular benefit to people who started their teaching career later in life
and who will not be able to build up entitlement to a full occupational
pension,” said John Monks, the TUC’s general secretary.

The scheme’s
benefits include tax-free lump sums of up to 25 per cent of pension funds and starting
contributions from £10.

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By Paul Nelson. Click here to respond

www.prudential-stakeholder.co.uk/tuc-teachers