Manage your members' pensions, perform key tasks and stay up to date with Scheme information.
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In light of the rise in employer contributions due to the Scheme Valuation, we’ve recently advised you about the importance of understanding the contractual requirements and implications your establishment has if you decide to leave the Teachers’ Pensions Scheme.
We’ve identified five steps that you must think about:-
Step 1 - Consider the benefits that members will be missing out on if you leave
Step 2 - Consult with your staff
Step 3 - Provide an alternative pension scheme
Step 4 - Advise members what they can do with their benefits should you choose to leave
Step 5 - Understand the process for leaving the Scheme
We’ve created a checklist to further explain the important steps you must take, particularly in relation to the advice you should be providing to your staff, who will ultimately be affected if you choose to leave the Scheme.