If you are looking forward to the Christmas holidays, but not to the start of the Spring term, it might be a sign that you finally want to retire from teaching.
One thing to note here is that the word ‘retire’ does not have to mean a full-stop on working. Retiring from one career can give you the freedom to find your next one! This may allow you to do something you really want to do for the next stage of your life.
Even if the thought of leaving has probably been on your mind for a while, It’s a big decision. If you do want to call it a (school) day, you’ll need to think about a whole raft of considerations, from pension and finances to how you will spend your time for the next 30+ years. As with classroom lessons, the key to an enjoyable and purposeful retirement is planning, and not just the financial side.
When to hand in your notice
If you choose to retire, one of your more pressing decisions will be when to hand in your notice. You need to give your school reasonable notice by the following dates, according to the NASUWT website:
– “To leave at 30 April, give notice by no later than 28 February
– To leave at 31 August, give notice by no later than 31 May.
– To leave at 31 December, give notice by no later than 31 October”
It might be tempting to think “Yes, I’ll do that at the start of the new term, get it done, so I don’t miss the deadline”. However, that doesn’t really give you time to plan your retirement, or really look at your situation in terms of what you want to do, to achieve, and the level of lifestyle you want to live.
You need time to plan – and a helping hand.
That’s where I can help. I’ve developed Life Beyond Teaching, a step-by-step retirement planning programme to help you plan for a fulfilling retirement with genuine purpose and the lifestyle you’ve worked for.
How Life Beyond Teaching works
First, we meet to discuss what’s important to you in retirement – your ideal lifestyle. We also look at your Teachers Pension, and other finances you’ve got in place. That’s the Teaching Prep Session, the overview that you can build your retirement plan on.
The Life Beyond Teaching programme is the comprehensive planning part, covering the essentials of:
- When and how you can retire
- If you want to go part time / work
- The ‘fun’ side of retirement: social, family, travel, hobbies
- A financial framework that underpins your plan
What happens next
- If you’re mentally ready to retire from teaching, then jump right into for your Teaching Prep Session, which you can book here, or learn more about here.
- If you’re not 100% sure and just want to chat, book a free 30-minute Discovery call here.
Understanding your pension options
If you are struggling to get to grips with your Teachers’ Pension (and believe me, you are not alone!), then opt for an “Understanding your Teacher’s Pension” session. It does what it says on the tin, so it is perfect if you are still at the early stages of considering retirement. It certainly helped Dawn, a secondary teacher who came to me for advice.
“I had been planning for taking my Teacher’s Pension on my 60th birthday for quite a while. The advance notifications and documentation from Teachers’ Pension with information about my pension and lump sum was mostly non-existent.
Making these financial decisions are very important for my retirement, both for my immediate and long-term future. Paul was able to guide and support me, clearly explaining the notes sent by Teacher’s Pension and the financial language that they used.
I would not have been able to apply, complete the forms and decide what the best options were without kind, frequent and informative support from Paul.”
Why get help from Panthera Life
As a former financial advisor and now a professional retirement coach, I have helped dozens of teachers retire, confident in the knowledge of knowing what they want to do, how they will approach retirement, and having the means to fund it. Start your retirement planning today with a simple click:
