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Teachers’ Pension Scheme (TPS) funding for the 2019/20 financial year

Published
17.04.2019

The Department for Education (DfE) has published the response to the public consultation on the impact of the increase in employer contribution rate of the Teachers’ Pension Scheme (TPS) from 16.4% to 23.6%.

From: ESFA local authorities esfa.local.authorities@notifications.service.gov.uk

Teachers’ Pension Scheme (TPS) funding for the 2019 to 2020 financial year

Letter from Owen Jenkins, Deputy Director, Academies & Maintained Schools Directorate, Funding Division, Education and Skills Funding Agency

Dear Colleague

The Department for Education (DfE) has published the response to the public consultation on the impact of the increase in employer contribution rate of the Teachers’ Pension Scheme (TPS) from 16.4% to 23.6%:

http://bit.ly/2VBwF0y

We’re pleased to confirm that we’ll be funding maintained schools and academies for 2019 to 2020.

We’re allocating the funding to maintained schools and academies using a per pupil formula. We’re accompanying this grant with a supplementary fund, to ensure there is additional support in place for schools facing unusually high pension costs.

Where a school faces a shortfall between their grant allocation and their actual increase in pension costs, of more than 0.05% of their overall budget, they will be able to apply to the supplementary fund.

We’ve published further details, including the rates, for the pension grant:

http://bit.ly/2VvvNdL

Academies will also be paid using these rates for the period April 2020 to August 2020. We’ll confirm future funding arrangements for maintained schools and academies for 2020 to 2021 as part of the wider Spending Review. We’ll make sure maintained schools and academies receive equivalent funding.

If you have any questions about the contents of this email, please contact us via our enquiry form:

https://tinyurl.com/ESFAenquiries

Yours sincerely

Owen Jenkins

Deputy Director

Academies & Maintained Schools Directorate

Funding Division

Education and Skills Funding Agency

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