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The Teachers’ Pension Scheme (TPS) John Brown DfE LGA Conference York 11 October 2016

Stay informed on The Teachers’ Pension Scheme developments over the last year, upcoming changes in regulations, exit payments, academy programs, valuation updates, and current activities as discussed at the John Brown DfE LGA Conference in York on October 11, 2016. Learn about the reformed scheme, new amending regulations, cap on exit payments, academy growth, and more.

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The Teachers’ Pension Scheme (TPS) John Brown DfE LGA Conference York 11 October 2016

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  1. The Teachers’ Pension Scheme (TPS) John Brown DfE LGA Conference York 11 October 2016

  2. Agenda • The last 12 months • Amending Regulations • Exit Payments • Academy programme • Valuation • Current activities

  3. The Last 12 Months (ish) • Reformed scheme implementation • Two Boards successfully established • Change to Pension input Periods (PIP) • Monthly data collection

  4. Amending regulations • Consultation complete • Main features: • ill-health pension • Serious ill-health commutation • Phased retirement • out of service early retirement • actuarial adjustment

  5. Exit Payments • Cap on public sector exit payments • Will include all payments linked to end of contract • Premature Retirement Compensation • Still some decisions to be made • Implementation date to be confirmed

  6. Academy programme • Number of academies continues to grow • Administration pressure • Good opportunity!! • New/improved communications and guidance • MDC on-boarding

  7. Valuation • Data collection started • Early 2017 – data cleansing and analysis begins • March – first data set to HMT • June – Develop scheme assumptions • Summer 2017 – HMT consult on central assumptions • October 2017 – calculations complete • Budget 2018 – results published

  8. Current activity • Exit payment provisions • Working Longer review • Data improvement • Valuation • Review of State Pension Age • Recruitment and retention

  9. QUESTIONS Q

  10. Sources Of Information/Contact • The Teachers’ Pensions Website: https://www.teacherspensions.co.uk/ • DfE Website: https://www.gov.uk/government/organisations/department-for-education • Teachers Working Longer Review: https://www.gov.uk/government/groups/teachers-working-longer-review-group

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