Independent Schools

Independent Schools - Bond required

Under the Teachers' Pensions Regulations, all new Independent Schools are required to provide a bond for the lifetime of their contact to enable acceptance into the Scheme.

It’s recommended this should be 3 months’ worth of contributions, but we would also suggest you get an additional 25% on top of this to allow for any future rate increases.

You’ll need to complete the Indemnity form, which should then be forwarded to your bank, who will complete their details and send directly to us.

Each school has to lodge funds with the bank to create the bond and you’ll be charged a fee to do this. If for any reason you’re unable to pay contributions to Teachers’ Pensions, we’d contact the bank and they’d release the outstanding contribution to us.

If you have any doubt that your contract covers your responsibilities, you should refer to the responsibilities document for a full list of what should be provided.

Last Updated: 08/03/2021 15:12


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