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Detail of outcome
This document summarises the responses to our consultation on the implementation of a reformed Teachers’ Pension Scheme. It provides the government’s response to each issue raised as a result of the consultation and acknowledges respondents wider concerns on scheme reforms. It also confirms the launch of the consultation’s second stage which is seeking views on draft regulations to give statutory effect to the reformed scheme.
This consultation represents a key step in the process of public sector pension reform which began with the government’s commitment to review the long-term affordability and sustainability of the public service pension schemes.
The reformed teachers’ pension scheme will ensure that the scheme will remain one of the best available. It will provide members with a high quality and sustainable pension that reflects their valued service to education, and will help employers to attract and retain excellent teachers.
This consultation sets out the proposals for the detailed scheme design and operation of the reformed scheme which will come into effect on 1 April 2015. It invites comments on the proposals and seeks views on any issues that the proposals raise.
Before responding to the consultation, you may like to access an online tool which helps you understand how reforms will affect you and your pension.