I work as a teacher, and I have worked as a teacher all my life. When it was time for me to decide on the pension plan I chose state pension. But now I am a bit worried. What will happen if I do not reach my retirement years due to illness? Is there a way for me to change the pension plan now (I am 43)?
Well you could have given me some more information about your currant pension plan. You should be aware that it is a huge problem when people decide to get another pension plan later in their life, and so close to the retirement years. I would not suggest that. There are several ways you can help yourself. You are aware that in order to receive full state pension you have had to have paid contributions for 39 years. If you have reached 10 year payment, you are eligible for 25 of the full pension. Now, because you work for an employer you should look into ways of paying the contribution yourself and maybe getting more than 25.
