Key changes

These are the key changes to the Scheme for those of you who are affected. These are being looked at in two parts.

For part one, the government has delivered the necessary legislation. This means:

  • The final salary scheme is closing on 31 March 2022.
  • From 1 April 2022 all active members will build up their pension benefits in the career average section of the Scheme.
  • Members don’t have to do anything; their Teachers’ Pension record will change automatically and from 1 April 2022 all pensionable service will be recorded in the career average scheme.

For part two, the government legislation is expected to be delivered towards the end of the year and will allow for the following:-

  • If you’re eligible, you’ll choose between your final salary and career average pension scheme benefits for service between 1 April 2015 and 31 March 2022 (the remedy period). You’ll make your choice at the time you take your pension benefits (e.g. when you retire), this is named the Deferred Choice Underpin (DCU).
  • Initially, those of you who were moved to the career average (reformed) scheme in 2015 (or later if you had tapered protection), will be moved back into the final salary (legacy) scheme for the remedy period. However, when you then take your pension benefits, for example at retirement, you’ll get to make your choice. At this point, you’ll receive the necessary information to be able to make a choice about which pension scheme benefits are better for you.
  • Those of you who are affected members who have already taken benefits from the final salary scheme, or will before April 2022, will be given the choice for service between 1 April 2015 and the date you take your pension benefits. Any change to benefits will be backdated.
  • More detailed information can be found by reading our Transitional Protection factsheet and the government response (This link opens in a new window).

Until then we’re unable to resolve individual queries but please be assured that as and when the information is available, we’ll advise members and continue to update our website.

Last Updated: 29/03/2022 13:26

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