Corporate report

Teachers’ pension scheme verification of cost of new scheme design

This publication was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Verification report of the cost of the design of the new teachers’ pension scheme.

Detail

Report by the Government Actuary’s Department (GAD) in its capacity as actuarial advisor to the Department for Education on the teachers’ pension scheme (TPS). The report follows normal quality processes for work conducted on public service pension matters.

The report contains the GAD verification that the new scheme design is within the cost ceiling and sets out the data, methodology and assumptions used in determining the value of the reference scheme and the new pension scheme design.