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If I understand this correctly, you are currently teaching in a secondary school - without an incremental post - and are not a member of the Department's superannuation scheme. Why haven't you joined? You do not have to be an incremental post holder to join...indeed you don't even have to be paid by the Department. Ring the superannuation section in the Department to check.I went back to college, did a HDip and hope to get an incremental post in my school in a couple of years - that'll mean that I'll start a new pension.
[FONT=Arial, Helvetica, sans-serif][FONT=Arial, Helvetica, sans-serif]How do I join the teacher' superannuation scheme?
Membership of the scheme is compulsory for all permanent and temporary Department paid teachers. Teachers should apply to: Department of Education and Science, Pensions Section, Athlone, Co. Westmeath. Department paid teachers are eligible to apply for membership, however part time teachers must be teaching a minimum of nine hours per week for a full school year. Teachers also have the option of buying back pension credit for previous years of actual teaching service. [/FONT][FONT=Arial, Helvetica, sans-serif] [broken link removed]
For more information on the buy back scheme read ASTI leaflet [broken link removed] and the [broken link removed].[/FONT][/FONT]
That's my boy (or girl)!It's funny, as soon as I mentioned my situation in the staff-room, the name cornmarket came up. I promise to steer clear.
Are you sure about that? Why would the unions be in a position to know what's most appropriate for an individual in this context?In the long run if you want the right and best advice and you want to make the most of your money, go to where the unions advise
Small brokers sell off-the-shelf products with very little expertise in these areas.
In this particular case the wrong advice (or an off-the-shelf pension) could mean this teacher would have to buy an annuity with her fund as opposed to having the flexibility of putting it into an Approved Retirement Fund (ARF), or she could end up over funding and drawing it down at the high rate of tax - resulting in no tax benefits. And so on.
The benefit to the union members is best advice.
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