Pension advice please

[Charlie]

Hi.
As I am now starting my forth year as a supply teacher it is about time that started a pension. I work for through agency so I do not belong to an employer occupational scheme anymore. Therefore, I will have to take out a private pension policy and would gratefully appreciate any advice/recommendations that people would care to make.

[clarabelle]

Do you know what? I feel really bad but I've been doing supply on and off for 7 years now and I've NEVER even thought about a private pension!!!!!! I'm working part time for an LEA but also doing part time supply work (the majority of the week) so it would be a good
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for me to have a private pension too! I'm so clueless and sorry as this has not helped you much!

[wonderweb]

I've just started supply this term. Any advice re pensions would be welcomed. My old teachers pension (3 years worth of payments heh) is just sitting there! It's a shame we can't elect to pay into it!

[clarabelle]

Absolutely! I think some LEA's give supply teacher's the opportunity to pay into their pension but not mine! If I get supply work through a school and get paid via LEA, do I still pay into my pension and get holiday pay if it is regular?

[Mister]

I'm also keen to learn about pensions.

Up to now it's been a simple choice of pay the mortgage or pay a pension, not both, but in a year or two I should be able to clear the mortgage, then that money could go towards a pension instead.

Can you get pensions that offer overpayments & payment holidays like some mortgages? This would be handy to balance the good & slack months, income-wise.

I'm also interested in the option of buying extra years of pension contribution should my earnings improve to a point where this was possible.

Do agencies make contributions to employees' pensions? I have the feeling they don't.

Any other advice would also be valuable, thankyou.

[jillclarke]

Some agencies are "official" and you are in a pool for the county,with these you can opt to pay towards your pension.

[Charlie]

Thanks for your replies and helpful information.
As far as starting a pension is concderned I e-mailed my union rep who was unable to help other than suggesting that I phone their pension department and speak to them direct. I have yet to do this but must get around to it sooner rather than later. I'll post the union's advice/recommendation if and when I receive it (as the union is ATL I do not recommend holding your breath!).

[Hectare]

My union's adviser, told me that stake holder pensions are poor and that buying additional years is better than additional voluntary contributions (AVCs). Unfortunately, to buy additional years, one needs to be on a contract! The EC has told the UK govt that employers must provide a pension by 2012, although I assume that agencies, under duress, will then provide their own inferior stakeholder pensions.