Question to the Department for Education:

To ask the Secretary of State for Education, if his Department will meet the cost of increasing the employers’ contribution to the Teachers’ Pension Scheme.

The estimated cost to state funded schools will be approximately £830 million in 2019-20 financial year and approximately £1.1 billion in each of the three following financial years until the next valuation of the Teachers’ Pension Scheme, which is due in 2022-23 for implementation in financial year 2023-24.

The Department intends to fund state-funded schools and further education providers for these costs for financial year 2019-20, and will be consulting to understand the effects on other sectors. Funding from 2020-21 onwards will be considered as part of the next Spending Review.

The Department will also consult on whether any funding should be provided to other employers within the Teachers’ Pension Scheme.

The Government Actuary’s Department is finalising the valuation of the Teachers’ Pension Scheme – based on the directions published by HM Treasury – and all figures are subject to change based on the final valuation.