Teach Primary Issue 19.5

“It never hurts to be informed” Do teachers understand the benefits of financial planning? Having worked in the financial services industry for many years, I have found that some teachers are simply not aware of the advantages that sound financial planning from a qualified expert can offer. Ultimately, what I would always say is that you don’t know what you don’t know. Therefore, even if you think that you don’t need financial guidance – you probably do, as there are often things that you may have done, that could have had a better outcome, or perhaps there are things that you should be doing and that you’re not doing at all. How can financial guidance help with retirement planning? Teaching is a demanding profession that, over the years, has become increasingly more stressful. Currently, we have an increasing number of teachers who do not want to stay until the Teachers’ Pension Scheme pension age, which is now in line with state pension age. Early retirement, however, is something that generally needs to be carefully planned for. It may be possible to even go earlier than you thought. This is where a specialist financial adviser can help you to plan to achieve the retirement that you want. What are some common misconceptions? There are numerous misconceptions – one being that teachers don’t need financial advice because they have the Teachers’ Pension Scheme ABOUT OONAGH: Oonagh Morrison is a regional manager at Wesleyan Financial services Contact: wesleyan.co.uk/ finances-teach- primary What’s the difference? + A specialist financial adviser is more than a financial expert; we specialise in the teaching profession. + We offer a full range of services, including comprehensive financial planning. + Our specialist financial advisers are highly skilled and fully qualified – often beyond the minimum industry standard. 30 SECOND BRIEFING Wesleyan’s team of specialist financial advisers offers holistic financial planning for teachers and senior education leaders across the UK. From the start of your teaching career to planning for retirement, we can support you every step of the way, providing all the info you need. Q&A OonaghMorrison, regional manager at Wesleyan Financial Services, highlights the benefits of professional financial guidance for teachers (TPS). Of course, the TPS will provide an income in retirement and it is a fantastic asset, but you have to plan for the retirement that you want, and that needs to be quantified. What will the scheme provide you with, and will that be enough for you to retire when you would like to, and what is the retirement you would like to build? We need to identify what that actually means for you. What sets Wesleyan apart? I believe the title that we’ve given our advisers has the key word in it – ‘specialist’. We specialise in your profession as a teacher. Our advisers are highly skilled and fully qualified, often beyond the minimum industry standard. The combination of the knowledge of the profession and the qualification, gives our SFAs the edge that other advisers may not have – we fully understand you, your profession, your job, how you came to be a teacher, your progression through your qualifications, your layers of employment, and more importantly perhaps, we understand the TPS itself. If you would like support or guidance on understanding your financial position, speak to a Specialist Financial Adviser at Wesleyan Financial Services for a financial review by visiting: A better financial future for teachers. Charges may apply. You will not be charged until you have agreed the services you require and the associated costs. Learn more about our charges here. www.teachwire.net | 15 PARTNER CONT ENT