ISC statement on TPS following government consultation response
The ISC has issued a statement following the Government consultation response over planned changes to the Teachers' Pension Scheme (TPS).
The Government's response, 'Funding increases to teachers’ pensions employer contributions', has been covered by The Telegraph, which quotes the ISC. The full statement from ISC chief executive, Julie Robinson, reads:
“Independent schools are committed to supporting their dedicated teaching staff, and this includes ensuring high quality pension provision. The first preference for schools would be to remain in the TPS where possible and if affordable.
“However, schools are facing significant cost increases under planned changes to the TPS and in our response to the Government’s consultation, the ISC – supported by the ISBA and our other member associations – suggested a ‘mixed economy’ proposal to help mitigate against the financial impact. This would give schools another option other than being ‘all in’ or ‘all out’ of the TPS, and would mean more teachers are able to remain in the scheme. We therefore welcome the Department for Education’s commitment to consider this proposal in further detail as a way to support teacher recruitment and retention.”