Independent Schools – serious issues to contend with, including staff pension costs

[vc_row][vc_column][vc_column_text] Is it 2021 yet? Without question, this year has so far exhibited all the signs of being the toughest ‘annus horribilis’ for generations – and with 8 full months remaining it is very hard to imagine that people will look back on 2020 with any fondness whatsoever. The world is already hoping for a… Continue reading Independent Schools – serious issues to contend with, including staff pension costs

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Teachers’ Pension Scheme – lessons learned in the first half of 2019

[vc_row][vc_column][vc_column_text]Since our last blog posting back in March, things have moved on considerably with regard to the participation of independent schools within the Teachers’ Pension Scheme (TPS). We have had meetings with a large number of independent schools and subsequently have started providing advisory services to many. We attended the ISBA Conference & Exhibition in… Continue reading Teachers’ Pension Scheme – lessons learned in the first half of 2019

Teachers’ Pension Scheme – to leave or not to leave?

[vc_row][vc_column][vc_column_text]We have recently had a number of interesting conversations with independent schools in light of the forthcoming (September 2019) 40% increase to employer contributions for the Teachers’ Pension Scheme (TPS). Many schools are at present actively discussing their position, taking professional advice and fully considering the available alternatives to the TPS. Others have acted quickly… Continue reading Teachers’ Pension Scheme – to leave or not to leave?

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Teachers’ Pension Scheme employer contribution increase – a step too far for the independent education sector?

[vc_row][vc_column][vc_column_text]Along with almost every school in the state sponsored ‘maintained’ sector, many independent schools also offer teaching staff membership of the Teachers’ Pension Scheme (TPS). The TPS is a government created (unfunded) defined benefit pension scheme run by delegated parties on behalf of the Department for Education. The TPS (as at March 2017) had nearly… Continue reading Teachers’ Pension Scheme employer contribution increase – a step too far for the independent education sector?