Valuation of the Teachers’ Pension Scheme

The Department for Education has now published the latest valuation reports in respect of the Teachers’ Pension Scheme. 

The valuation is how the scheme costs are measured and managed and determines the employer contribution rate that is required for the next four years, including any cost cap.

Following the recommendations of Lord Hutton on public sector pensions, the valuation has been undertaken by the Government Actuary’s Department in line with the revised valuation directions determined by Her Majesty’s Treasury.

The report confirms that the employer contribution rate for the Teachers’ Pension Scheme will increase from 14.1% to 16.4% (does not include the 0.08% levy) and that the employer cost cap (the mechanism by which the scheme costs are managed in the long term) is 10.9%. 

The Government has recognised that teaching establishments work on an academic and not financial year and has reflected this by deferring the increase in employer contributions from 1 April 2015 to 1 September 2015.

The actuarial valuations as at 31 March 2012 have been listed below:

Report by the Scheme Actuary Report on membership data Report on data used for experience analysis Report on methodology Advice on assumptions Frequently Asked Questions

To access these forms at a later date, please visit our regulations page.

If you require further information specific to the valuation the please email change2015@teacherspensions.co.uk