Governance of the Teachers' Pension Scheme

Following Lord Hutton’s recommendation that Pension Boards were established for all public sector pension schemes to give scheme members, taxpayers and others confidence that the schemes are being efficiently and effectively administered, the Department for Education set up the Teachers' Pension Scheme Pension Board (TPSPB) in 2015.

Although the Board provides additional layers of scrutiny and challenge, the Secretary of State retains overall responsibility and accountability for the scheme.

Board appointments are made based on individual knowledge, skills and experiences that can be used to improve the Teachers’ Pension Scheme for its members and employers. Members of the TPSPB represent the interests of all of the scheme’s beneficiaries, the participating employers and the Accounting Officer and not simply the interests of the organisations that nominated them.