Retirement
Northern Ireland Teachers’ Pension Scheme (NITPS) — key points and quick links.
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| Topic
NITPS overview Statutory scheme
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Summary
The Northern Ireland Teachers’ Pension Scheme (NITPS) is statutory and subject to the Teachers’ Superannuation Regulations (NI) 1988 (as amended). The scheme is contributory (teacher + employer), and the minimum service requirement for an award of pension is two years. Additional Pension can be purchased. |
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| Topic
What you receive Final salary
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Summary
Described as a “final salary” scheme providing a lump sum on retirement plus regular income after retirement. Pension is index-linked. |
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| Topic
Benefit calculations Pre / post 1 Apr 2007
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Summary
Before 1 April 2007: Pension = service × average salary ÷ 80; Lump Sum = pension × 3. |
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| Topic
Ill-health retirement TIB / PIB
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Summary
Ill-health retirement benefits may be payable at two levels: Total Incapacity Benefits (TIB) (with service enhancement) or Partial Incapacity Benefits (PIB) (no enhancement). Benefits may also be payable to dependants on death in service. |
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| Topic
Normal pension age & options NPA / phased
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Summary
Normal Pension Age (NPA) is stated as 60 for those in the scheme prior to 1 April 2007, and 65 for entrants after that date. From 1 April 2007, retirement from age 55 is possible (actuarial reduction applies). Phased retirement can be taken from age 55 by reducing employment by 25%–75% for at least 12 months prior to NPA. |
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| Topic
Member contribution rates (from 1 April 2015) Tiered rates
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Summary
From 1 April 2015, salary bands changed and the band is determined by actual annual salary rate (actual earnings) rather than full-time equivalent.
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| Topic
Scheme change (from 1 April 2015) CARE
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Summary
From 1 April 2015 the NITPS changed from final salary to a Career Average Revalued Earnings (CARE) scheme. Some members remain in final salary arrangements; others have a combination of CARE and final salary accrual. New entrants on/after 1 April 2015 accrue CARE benefits only. |
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| Topic
Contacts Support
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Summary
If you have pension queries or are considering retiring, UTU advises contacting the union. The page also references Teachers’ Pensions’ Branch for full scheme details. UTU: 028 9066 2216 · office@utu.edu |
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