Teachers & Nurses

A Teachers/Nurses (public sector) Pension scheme is a Defined Benefit Scheme which gives a pension based on service and final pensionable remuneration.

The amount of pension benefit is defined in the scheme rules and is not affected by investment returns. 

The main benefits are: 

     Retirement pension and lump sum

    Death benefits

    Spouses’ and children’s pensions

Retirement Pension and Lump sum

On retirement you will be entitled to a pension and lump sum. Pension and lump sum payments are determined by:

    Total pensionable service (based on completed years and days of     service subject to a maximum of 40 years), and

    Pensionable remuneration on the last day of service 

Death Benefits

A death in service gratuity is payable to the teachers/Nurses personal representative should a death happen whist in pensionable service. It is the greater of

    One year’s pensionable remuneration (at the rate applicable     at theTeacher’s/Nurses death);

    or

    The amount of lump sum that would have been payable had the     teacher/Nurse retired on medical grounds at the date of death,     subject to a maximum of 1½ times the teacher’s pensionable     remuneration at the date of death.

Spouses and Children’s Pension 

The scheme provides a pension for the spouse and/or dependent children of a member who dies in service, or after qualifying for pension or preserved pension.