Teachers pensions - how safe are they?

[CoolHands]

As I get older I find myself looking at whether to purchase extra pension. I can pay for it either over time (monthly) or as a lump sum.

Since I know you're interested an example:

For me £1000 extra of pension pa would cost approx £12,000 as a lump sum. It would cost more than that if I paid for it monthly over 10 years - (can't remember exactly) but something like £129 a month total of £15,480.

So all well and good if I wanted to do this, but. How safe is it really? I don't want to pile all my money into a pension only to find out that as I reach retirement age the government swipe it back through some new scheme that all teachers are overpaid (as I know many on ph think). Or, like my Uncle who worked for Kodak for his whole life got virtually nothing cos the company went to the wall. he had share options and all sorts tied up in it. With the benefit of hindsight he should have lived the highlife while he could.

I know no-one can guarantee anything but I'm just thinking if I pile more money in it will affect my living standards now - I'm ok with that. But obviously I wouldn't be if it turns out I do that and then get fked just as I reach retirement. Any thoughts?

Edited by CoolHands on Monday 18th May 18:29