Abbey Gate College – Press Statement Regarding Teacher Pension Scheme thumbnail image Abbey Gate College – Press Statement Regarding Teacher Pension Scheme Published on 21st March 2024

21st March 2024

Press statement by Abbey Gate College

The school’s Governors greatly appreciate and value our dedicated teaching staff, who provide an excellent education and nurturing environment for all children at Abbey Gate College. The school is thriving as a result of our staff’s efforts, and we have never taken this for granted.

The Government recently announced an additional 21% increase in the cost to all schools of the Teachers’ Pension Scheme (TPS), following a 43% rise in costs in 2019. Unlike State schools, these increases are not funded by the Government for independent schools and are creating significant pressure across the sector. As a result, the Governors commenced consultation in October for the school to enrol staff in alternative, appropriately funded pension arrangements, including an option to remain in the TPS.

Andrew Grime, Chair of Governors at Abbey Gate College, said: “Following all due guidance, a period of authentic consultation and engagement with our teaching staff commenced. The Governing body clearly set out to our staff the financial consequences of remaining in the TPS, with a view to reaching agreement before any final decision was made. At the time of writing, the majority of our teaching staff have already accepted the new terms and conditions proposed by the Board of Governors.

We continue to uphold the legal rights of our staff, and we fully respect our staff’s choice to obtain advice as a member of a trade union. We also appreciate the support and understanding of our families and the wider community”.

For more information contact:

01244 332077

Reference notes:

  • From September 2019, the Government increased employers’ contributions to 23.68% of teachers’ salaries.
  • This was a 43% increase to the previous employers’ rate of 16.48%.
  • From April 2024, TPS employers’ contribution will increase again from 23.68% to 28.68%, representing an overall increase of nearly 75% since 2019.
  • Only independent schools are affected by this increase.
  • Nearly 500 independent schools have either already left the Teacher’s Pension Scheme or are in phased withdrawal (the scheme is closed to new members of staff joining those schools).
  • At least a further 170 independent schools have entered consultation over leaving the Teachers’ Pension Scheme.