Hi all, looking for any advice or points to consider on this- all help appreciated.
Partner has been a teacher for 18 years, currently early 40s. He has just been offered a new job in a different sector- a salary increase is anticipated but not sure to what degree yet. We're wondering what we need to consider regarding his teacher's pension if he goes ahead with the new position. I think he can keep making contributions at full actuarial cost if he takes a career break, but I'm not really sure what this means in terms of cost or whether it's the best option. Perhaps he should be leaving the teacher's pension as is and looking into other options? Obviously the salary increase would allow room to consider that. The current offer is of a 1 year contract.
Thanks for any help you can offer on this
Partner has been a teacher for 18 years, currently early 40s. He has just been offered a new job in a different sector- a salary increase is anticipated but not sure to what degree yet. We're wondering what we need to consider regarding his teacher's pension if he goes ahead with the new position. I think he can keep making contributions at full actuarial cost if he takes a career break, but I'm not really sure what this means in terms of cost or whether it's the best option. Perhaps he should be leaving the teacher's pension as is and looking into other options? Obviously the salary increase would allow room to consider that. The current offer is of a 1 year contract.
Thanks for any help you can offer on this