Free Pension Review Service for Teachers and Public Employees
As a teacher or public employee, It can be easy to get bogged down in trying to understand your pension plan. If you find yourself confused with aspects of your pension, wondering how it is performing or whether you are getting the most out of your pension, our team of experts at Appreciation Financial can help.
What is a pension?
A pension plan is basically another name for a retirement fund. It is an amount of money saved up over time, available for you to spend when you are ready to stop working and retire.
Your pension is saved up throughout your career, and to build it up, you and your employer may pay into it during your years of employment. It is a simple way of saving money for retirement for public employees.
Once you are employed a public employee, you should automatically be opted into the state pension, which is also known as the government pension scheme. However, there are different types of pension plans, and depending on the type you have, there will be a set age for you to begin taking money from the account. This is usually around the age of 65.