Winding Down is a phased retirement option for teachers. It applies to members who are either ‘protected’ or have ‘tapered protection’ and have entered the STPS 2015 following winding down. It offers those members approaching retirement age the opportunity to continue in employment on a part-time basis whilst protecting their overall final retirement pension entitlement.
The Regulations for eligibility to Wind Down were amended from 1 April 2007 to allow members who have a Normal Pension Age (NPA) of 65 to be included. Therefore, to participate in Winding Down employment a teacher must:-
- Have attained the age of 56 if NPA is 60 OR 61 if NPA is 65
- Have been in full-time service for a period of 10 years immediately prior to commencing Winding Down employment
- Have accrued a minimum of 25 years’ teaching service prior to commencing Winding Down (i.e. the member must have had a contract to teach for at least 25 years). The period may include, for qualifying purposes, a maximum of 5 years during any break or breaks in teaching service which will count towards the requirement of having 25 years’ teaching service, (although will not count towards the calculation of benefits)
- Reduce their working hours equal to or more than 0.5 full-time equivalent
- Remain in Winding Down employment up to a maximum of 4 years prior to NPA. Where a teacher ceases to be in the Winding Down Scheme employment (leaving during or at the end of the 4 years permissible) and returns to teaching service, the service credit during the period of Winding Down employment will be removed.
The Council has sole discretion whether or not to approve applications for Winding Down.
Relevant Links and Documents
- Scottish Teachers’ Superannuation Scheme
- STSS: (WD)12 – Winding Down Application Form
- Winding Down Factsheet
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