Get the best experience in our app
Enjoy offline reading, category favourites, and instant updates - right from your pocket.

Pensions cost LEAs millions

5th October 2001, 1:00am

Share

Pensions cost LEAs millions

https://www.tes.com/magazine/archive/pensions-cost-leas-millions
AN INCREASE in employers’ contributions to teachers’ pensions in England and Wales will cost local authorities an extra pound;130 million a year from next April.

The rise in contributions - to 8.35 per cent of a teacher’s salary - has been recommended by the Government actuary to cover the costs of improved benefits to the Teachers’ Pension Scheme.

These include the doubling of the death-in-service grant, more generous pensions for teachers with less than five years’ service who take ill-health retirement, and the chance for teachers to continue paying into the scheme if they carry on teaching after retirement.

The additional contributions will cost the largest LEAs several million pounds a year. Lancashire will have to find an extra pound;2.8m.

Want to keep reading for free?

Register with Tes and you can read five free articles every month, plus you'll have access to our range of award-winning newsletters.

Register with Tes and you can read five free articles every month, plus you'll have access to our range of award-winning newsletters.

Keep reading for just £4.90 per month

/per month for 12 months

You've reached your limit of free articles this month. Subscribe for £4.90 per month for three months and get:

  • Unlimited access to all Tes magazine content
  • Exclusive subscriber-only stories
  • Award-winning email newsletters

You've reached your limit of free articles this month. Subscribe for £4.90 per month for three months and get:

  • Unlimited access to all Tes magazine content
  • Exclusive subscriber-only stories
  • Award-winning email newsletters
Recent
Most read
Most shared