Increase your Teachers’ Pension

If you are enrolled on the Teachers’ Pension scheme, you have the opportunity to increase your pension by adding contributions on a monthly basis. 

Faster Accrual gives members of the career average arrangement the opportunity to pay higher contributions to increase your pension for a particular scheme year.

An election for Faster Accrual must be made before the year it takes effect, ideally no later than January, and it applies for one year. A new election needs to be made every scheme year and each election starts on 1 April and ends on the following 31 March.

There are three rates you can choose to pay instead of the standard contribution rate of 1/57th of your pensionable earnings. The rates are 1/45th, 1/50th or 1/55th. The increased contributions that you’ll have to pay are based on a number of factors such as your age and the rate you are purchasing.

If you are enrolled in the Teachers’ Pension scheme and would like to know more or register for Faster Accrual, please visit My Pension Online: https://www.teacherspensions.co.uk/public/login.aspx