February 2013

The know zone

  • Warning signs
    The case of a BNP councillor who took his claim against unfair dismissal to the European Court of Human Rights is a warning to schools and colleges, says Richard Bird. More
  • Toil and trouble
    Changes to local and national funding formulae could be a recipe for a whole cauldron of bother, says Sam Ellis. More
  • Lead vocals
    Quotes from Judy Garland, Kongzi, Ezra Pound, Felix Cohen and Thomas Fuller More
  • Home ground
    After 20 years away, Mark Stanyer returned to the school where he began his teaching career and is now principal of Ormiston Sir Stanley Matthews Academy in Stoke-on-Trent. More
  • Nourishing minds
    The Food for Life Partnership (FFLP) is revolutionising school meals by reconnecting young people with farms and inspiring them to grow food and cook. More
  • Keeping pedagogy on track
    Despite being in the midst of one of the most challenging periods in education Brian Lightman explains why he believes there are strong grounds for optimism in 2013. More
  • Adding value
    In his Autumn Statement, the Chancellor announced two changes that will hit high earners, people seeking to boost their pension provision, and public sector workers who benefit from generous employer contributions. More
  • Quantitative easing
    Do you believe changes announced to the teachersí pay structure will be beneficial or detrimental? Here, leaders share their views. More
  • Plantastic voyage
    Nothing solves a problem quite like a carefully constructed, conscientiously costed action plan. Just make sure that everyone has the correctly coloured stationery. More
  • Leaders' Surgery
    The antidote to common leadership conundrums... More
  • Financial times...
    With changes to pensions announced in the Autumn Statement and proposals to change teachersí pay published only days before ASCL Council met in December, it was no surprise that pay and conditions were high on the agenda. More
Bookmark and Share

Adding value

Last chance to boost your pension fund

In his Autumn Statement, the Chancellor announced two changes that will hit high earners, people seeking to boost their pension provision, and public sector workers who benefit from generous employer contributions.

The amount you can contribute to your pension fund will fall from £50,000 to £40,000 a year from 6 April 2014. You should therefore consider contributing as much as you can in this year and next, for instance by using the carry forward rules. These enable you to carry forward unused allowances from the three previous tax years to the current year.

Also as of 6 April 2014, the lifetime allowance will fall from £1.5m to £1.25m. If the total value of your pension funds exceeds this, the surplus will incur an exceptional tax charge of up to 55 per cent. However, you may be able to apply for protection against the tax charge.

The rules governing pension contributions, including both these options, are complex and it is advisable to take professional fi nancial advice before acting.

  • To arrange an initial, complimentary consultation, with no obligation, contact Lighthouse Financial Advice, ASCLís preferred provider of professional financial advice, on 08000 85 85 90 or email appointments@lighthousefa.co.uk

One of the benefits of ASCL membership is discounts and special rates on a range of personal and educational products and services. There are healthcare products, online staff well-being systems, financial advice and self-evaluation surveys. Check out the full list at www.ascl.org.uk


LEADING READING