The Teachers’ Pension Scheme (TPS) is a Government-backed, unfunded defined benefit pension scheme that provides benefits for in excess of 700,000 teaching staff throughout England and Wales.

A large proportion of these teachers work in state schools, but a significant number are employed by Colleges, Universities and Independent Schools.

The rate at which employers are required to contribute to TPS is set by the Government following each valuation of the scheme. Valuations are typically carried out every four years, and the most recent one saw a very significant increase in the rate that employers must pay.

Our specialist higher education team has worked with many schools and universities to help develop their pension strategies in response to this issue. To find out more, our recent webinar is a good place to start.

In Scotland, teaching staff participate in the Scottish Teachers’ Superannuation Scheme (STSS). While this is a separate arrangement to TPS, it is set up and paid for in a very similar way, and employers face the same set of issues.

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What’s happened to pensions in the higher education sector? Helping you navigate through the industry's latest challenges. 

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