Once a teacher retires from Teachers Service Commission (TSC) ,one is qualified to get the several retirement benefits.
However, before one is guaranteed the benefits, there are a number of must meet criteria which include;
1.The Years of Service
According to TSC, for one to qualify for pension, they must have served for at least 10 years minimum period.
2.The Age of the teacher
For normal retirement, one must must have attained the retirement age of 60 years to benefit.
3.Teacher Retirement Option
According to TSC, a teacher can choose to retire either on normal retirement, early retirement or late retirement and the teacher too qualifies for pension benefits.
Lits of TSC pension benefits paid to a teacher.
Once a teacher has retired from the commission upon attaining the mandatory retirement age ( 60 years) these are the benefits the teacher gets.
- Teachers lump sum pension benefits
- Graduity benefits
- Medical Cover benefits
- Group insurance cover
How to a teacher starts Planning for Retirement
Fir the teachers approaching retirement , here are some of the essential things to plan for ahead to have smooth transition in your next cycle.
Have Financial Planning
Incase you have some challenges , ensure that you consult a financial advisor to help you plan for your retirement finances accordingly .
Plan for your Healthcare
It is important that you have a proper understanding of the medical cover options to enable you have adequate healthcare coverage.
TSC headquarters building offices; Image/ Courtesy
Be updated on Legal retirement requirements
The retirement legal requirements are documents that will be used to access your retirement benefits.
In your second year to retire, ensure that all your necessary documents are in order.
Therefore , it is important to prepare adequately so as you are able to get your entitled retirement benefits inorder to afford and gain your financial security and peace of mind during your retirement years while out of service.
