We just want to remind you of the importance of paying your contributions on time to avoid interest charges.

Unfortunately, if the payments are received late, they’ll be charged at the SCAPE rate from the statutory due date until the date of receipt.

The SCAPE Discount Rate is a discount rate used in the valuation of unfunded public service pension schemes, such as the Teachers’ Pension Scheme to set employer contribution rates. Set by HM Treasury, it expresses future pension promises that are being built up in present-day terms.