TSC Teachers Recieve Additional Lump Sum Pension under 4 Retirement Benefits.
Teachers Service Commission (TSC) normally pays teacher monthly salary as the ones who retire get paid retirement benefits inorder to recognize their good work before they get to retire.
Some of the major benefits that the retired teachers enjoy have been listed below.
1.TSC Teacher Pension Scheme
The teachers’ employer operates on a pension scheme that normally provides teacher with retirement benefits .
The commission calculates the teacher’s pension upon considering the final pensionable salary as well as the number of years they served.
2. Teacher Gratuity benefits
A part from pension , TSC pays a gratuity benefits to the retired teachers upon their retirement.
The paid graduity benefits are normally calculated based on teacher’s final as well as pensionable salary and also the number of years that one has served under the commission.
3. Medical Cover benefits
The TSC retired teachers are equally eligible for retirement medical cover which is provided under the TSC commission medical scheme cover.
With the medical cover, retirement teacher professionals are able to access their medical services in hospitals that are accepting the scheme.
4.The Group Life Insurance benefits
All the retired teachers normally enjoy these benefits provided that they are under TSC group life insurance cover.
The cover is designed to provide financial protection to the retired teacher as well as the identified beneficiaries in the event where the teacher passes on .
TSC teacher (s) Lump sump pension retirement benefits amount
Pension lump sum amount is paid after retirement .
Sometimes, the release of these funds is a concern to all teachers and as a result , it is important for teachers to understand what normally determines this important payment.
The amount of pension paid to a teacher depends on the following factors :
a) The Teacher Pensionable Emoluments
The total salary and allowances paid to a teacher depends on what they used to earn before retirement from TSC.
The amounts include the basic salary, monthly house allowance, monthly teacher commuter allowance and also any other allowances regarded as part of their regular teacher income.
2.Pensionable Service
This is taken as the number of years that a teacher has served under the TSC, to mean that the longer the service period,the higher the lump sum expected.
Teacher Pensionable service equally accounts for any leaves of absence that the teacher took.
3. Teacher’s Age at Retirement
Normally, the teacher retirement age usually is a significant role in determining the lump sum that is to be paid .
TSC Teachers Recieve Additional Lump Sum Pension under 4 Retirement Benefits.
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