Explanation of the effect of one strike day on pensions

One day strike will reduce your pension* by only £2.19 a year

*For a teacher at the top of the maingrade scale

A further £6.57 will be lost from any lump sum.

Effect on pensionable salary for those who are within ten years of retirement = nil

The Teachers' Superannuation (Scotland) Regulations:

Regulation E34 (1) (b) states “In determining for the purposes of paragraph 1 (the mechanism used to calculate final salary), what are the best 365 days of the material part of the teacher's service, days in which the person is not in pensionable employment are disregarded”.

The same concept applies whether the period is the “last 365 days” or the “best three years in the last ten”.

With regard to the loss of superannuable service, this is the same for everyone i.e. one day.

At top of the main scale (currently £34200): One day of service = 1/195 (may be less)

The STSS work on the basis of 365 days in a year and therefore the actual loss in pensionable service is (365/195) 1.87 days

Annual pension attributed to one day = £34200/195 x 1/80 = £2.19 per annum

Loss in lump sum = £6.57

The loss is greater for higher final salaries but is in exact proportion to this.

Any comments to the contrary made by employers are incorrect and should be ignored!

Members should note that employers are not the agency which operates the Scottish Teachers' Superannuation Scheme. A number of employers cannot accurately calculate the wages of temporary teachers (which they are required to be able to do). How will they manage superannuation issues which are outwith their knowledge and expertise?

Published on 23 November 2011 - Pensions
SSTA

Contact Details

Scottish Secondary Teachers' Association, West End House, 14 West End Place, Edinburgh EH11 2ED

0131 313 7300
info@ssta.org.uk

Monday to Thursday – 9am to 4.45pm Friday - 9am to 4.15pm

Copyright © 2024 SSTA All Rights Reserved