Scottish Secondary Teachers' Association

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KEY POINTS

• Government proposal to raise minimum pension age from 60 to 65.
• From 2006 all new entrants would be on the 65 retirement age.
• For teachers currently in service under age 50 (today) each year worked from 2013 will only “pay out” at age 65. Years already worked by 2013 will still be payable at 60.
4 examples.
Teacher A - Age 50 (2003)

Service to 2003 =	25 years
Further service to 2013 =	10 years
=	35 years

In 2013 (age 60) pension = 35/80 (100% of pension)
Teacher B - Age 40 (2003)

Service to 2003 =	15 years
Further service to 2013 =	10 years
=	25 years

Further service to retirement = 10 yearsIn 2023 (age 60) pension = 25/80 (71% of pension)
Remaining 10/80 not payable until 2028 (29% of pension)
Teacher C - Age 30 (2003)

Service to 2003 =	5 years
Further service to 2013 =	10 years
=	15 years

Further service to retirement = 20 yearsIn 2033 (age 60) pension = 15/80 (42% of pension)
Remaining 20/80 not payable until 2038 (57% of pension)
Teacher D - Age 25 (2003)

Service to 2003 =	Nil years
Further service to 2013 =	10 years
=	10 years

Further service to retirement = 35 yearsIn 2038 (age 60) pension = 10/80 (29% of pension)
Remaining 25/80 not payable until 2043 (71% of pension)
Teacher E - Age 25 (2006)
All pension not payable until Age 65 (2046) (100% of pension)Will adversely affect

• Teachers	– more illness
	– more deaths

• Their families	– loss of income

	– loss of a teacher
• Pupils	– Effect on quality?

Leave pension age at 60