Next in our series of ebriefings on the Government’s Green Paper: Transforming public procurement; looking at the Chapter 4 proposal to change the basis of contract awards.
The Department for Education introduced regulations earlier this month which make a number of changes to the Teachers’ Pension Scheme including to contribution rates. The employer contribution rate will be increasing from 14.1% to 16.4% with effect from 1 September 2015. Although the regulations themselves come into force on 1 April 2015, the rise in the contribution rate has been delayed until the new academic year to allow employers to budget for the new rates.
Employee contribution rates are also changing with effect from 1 April 2015. These will now be:
|Annual salary rate||Members’ contribution rate|
|£0 - £25,999||7.4%|
|£26,000 - £34,999||8.6%|
|£35,000 - £41,499||9.6%|
|£41,500 - £54,999||10.2%|
|£55,000 - £74,999||11.3%|
These salary bands will increase each year in line with any increase in the consumer prices index for the month of September, rounded up to the nearest £1. Concerns have been raised about the level of employee contributions and the Department for Education has confirmed that these will be revisited when the next evaluation takes place in 4 years’ time.
The Department for Education has also confirmed that the cost of administering the Teachers’ Pension Scheme will in future be paid by participating employers rather than the Department for Education. Again, this change will be introduced from September 2015 rather than April 2015 in order to allow participating employers to budget for this. It is estimated that this will result in an additional charge to employers of approximately 0.08% of salary costs.
For more information
If you have any questions on these proposals or require advice more generally in relation to the Teachers’ Pension Scheme, please contact Doug Mullen on 0121 212 7432 or firstname.lastname@example.org.
The Academies Financial Handbook is updated annually by the Department for Education and the Education and Skills Funding Agency; it contains a number of governance requirements for academy trusts.
Supreme Court publishes key decision for those working in the UK’s gig economy.
The 'Chocolate Snowman Appeal' is an amazing initiative that Anthony Collins Solicitors' (ACS) employees take part in every year.
The Building Safety Bill (the Bill) is said to be the most significant and wide-ranging change to the regulatory environment for higher risk building (HRBs) for over 45 years.
On 4 November 2020, the Restriction of Public Exit Payments Regulations 2020 (the Regulations) came into force; exit payments for the public sector were capped at £95,000.
The case was brought by the Official Receiver who sought disqualification orders under section 6 of the Company Directors Disqualification Act 1986 (CDDA 1986) against the seven trustees of Kids Company and its CEO. It illustrates well the tension between the role of a fulltime paid CEO of a large charity and the role of its board as voluntary trustees/directors.
At the end of 2020, The Charity Governance Code was updated or 'refreshed' as it is termed on its website.
Anthony Collins Solicitors is today (Thursday 11 February) revealing the scale of its social impact during 2020.
In their first podcast of this series, current and future trainees will discuss their journey and route to securing a training contract at Anthony Collins Solicitors.
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