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Teachers' Pension Scheme withdrawal

Hi All,

Has anyone had any experience of withdrawing from the TPS (either fully or phased) and have any key pieces of advice to offer, or pitfalls to avoid? 

Thank you

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  • Hi Jo

    Presumably, on behalf of an employer, you're contemplating taking your teaching staff out of TPS membership? As you may know, the teachers' union would be likely to fight this tooth and nail - eg
    neu.org.uk/.../protecting-pensions

    (Personally I'd tend to support / applaud the unions' efforts, on the basis that it's usually 'a bad thing' both for individual employers and for Society generally to be on a mission to make teachers cheaper to employ in this way.)

  • In reply to David:

    Ah David - it's a great pension, but the employer contribution rate is now rising to 28.68%, so for anyone who doesn't get that paid by the state, it really is unaffordable long term. It's also an unfunded scheme with no assets, so its costs bear no resemblance to its benefits.

    Jo - very happy to talk offline about this if that's helpful? I was part of a consultation in a previous school, and have just implemented phased withdrawal in my current one.

    Nina