The significant (and rising) cost of continued membership of the Teachers’ Pension Scheme remains firmly on the agenda for many governing bodies of independent schools.

One in four independent schools in the UK has now either left, or is set to leave, the TPS following the 43% increase in the employer’s contribution rates which took place with effect from September 2019. A cost which many independent schools at that time could not afford, and, following the impact of Covid-19 on the economy, even more schools are now feeling the pressure.

It is widely expected that a further rise in contribution rates for the TPS will be announced in the findings of the 2020 actuarial review (which is currently underway) with rumours in the sector suggesting an increase to as much as 30% of pensionable salary with effect from April 2024; a cost that is likely to raise challenges for many schools.

In this joint webinar with Succession Wealth, we will provide independent schools with the tools they need to navigate this issue. We will highlight the strategic decisions that school leaders, governing bodies and trustees should be considering over the next 12 months, the various options available, and some of the typical challenges that schools could face.