For many teachers, students, support staff and grateful grandparents (!), this week marks the return to school for the Autumn Term 2024.
According to the latest “Explore Education Statistics” for 2023, just over 980,000 FTE (full time equivalent) will be returning to work in the state-funded schools in England. (The figures do not cover independent schools.)
Of those:
- 50% are teachers
- 30% are teaching assistants
- 20% are other support staff
Interestingly, the overall number of FTE staff has risen from 2022, with 300 more teachers. In addition, according to the Gov website:
“There are 282,900 FTE teaching assistants, which is an increase of 1,800 since last year and an increase of 61,400 since 2011 when the census began collecting support staff information.”
Vacancy rates for teachers in England
The teacher vacancy rate for 2023 was just 0.6%, but those entering the profession fell by 3,900 compared with 2022. On the plus side, the number leaving the profession was 500 fewer than those joining, and the number leaving down overall by 300 on 2022.
Pupil ratios in England
The average pupil to teacher ratio was 18.1, broken down as follows:
- 20.8 pupils per teacher in nurseries and primary schools
- 16.8 in secondary schools
- 6.5 in special and PRU schools
So, what might these statistics mean if you plan to retire from teaching this academic year?
Banish the guilt – a holistic overview
Each individual school will have its own issues and challenges, whether it’s leadership, results, behaviour, staffing issues or logistical challenges such as RAAC. So it can be very difficult sometimes to separate the dramas happening in your particular school from the national picture.
These Explore Education Statistics show that overall, there are still more people coming into teaching than leaving. Vacancies are low, although that may be due to positions being cut rather than sufficient staff in total.
However, it does suggest that if you chose to retire now from full-time teaching, you should not feel guilty that you are leaving a hole that cannot or will not be filled. The same applies if you are a teaching assistant or a member of support staff.
Affordability – your teacher pension
One of the biggest questions for teachers about retirement is a simple one – can I afford it? The Teachers’ Pensions scheme provides benefits depending on how long you have been a member, and what kind of retirement you are planning, be it:
- Early Retirement
- State Pension Age Retirement
- Phased Retirement
- Premature Retirement
- Retirement due to Ill Health
In my experience, many career teachers aged 55+ have no clear idea how much their pension is actually worth, especially after the recent Transitional Protection changes. When we look at the figures together, we invariably find they have more than sufficient to allow them to plan their retirement with confidence. As a result, many can retire earlier than they had hoped.
The Teachers’ Pensions website
The Teachers’ Pensions website has improved recently, and you can now access various estimation and allowances calculators to help work out your options.
However, these kinds of calculators can never give the full picture of how your pension fits into your overall pension and savings pot. It is also more complex if you are impacted by the transitional protection benefits.
That’s why I offer a 1 to 1 Teachers’ Pension Review. In this 60-minute session, I talk you through all aspects of your teachers’ pension, and answer key questions such as:
- How to check your service record
- How much your pension will be at retirement
- When you can retire
- How the new pension reforms might affect you
To book your Teachers’ Pension Review, just get in touch:
