Will you still fund me… When I’m 64?

It’s not often that the Government asks for more money and then offers to pay anyway! That is the situation when it comes to employer contributions to the Teacher Pension Scheme (TPS) for most maintained schools and academies, as well as, it appears, music hubs.

In the latter months of 2018, the Government announced that employer contributions to the (TPS) would need to increase by 40%, from 16.48% to an estimated 23.6% of employee earnings. For 2019/2020, the Government proposes providing funding to help foot the £830m bill for such increases. However, as with many things political at the time of writing, there is still an element of uncertainty for the future.

If you would like to contribute to the discussion, please do participate in the Government’s newly launched consultation process on the issue. It is important that the Government hears from as many stakeholders as possible so as to inform and affect decisions that are made which may have serious ramifications for school budgets in the years to come. Consultation closes on 12th February 2019.

If you would like to contribute, please follow this link. A copy of the consultation document can be found here.

Further information

For more information on this briefing, please contact Katherine Sinclair or Doug Mullen.

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