Pensions and pension reform
The majority of our 248,000 College staff belong to either the Teachers' Pension Scheme or the Local Government Pension Scheme. Colleges contribute some £½ billion a year into these schemes through employer contributions.
AoC has a monthly pensions briefing which highlights changes as they happen. You can sign up to this briefing by adding pensions briefing to your membership profile.
The changes proposed to both public service pension schemes which Colleges are members might are not necessarily easy to grasp. We have split TPS and LGPS as each is treated differently.
Changes to the schemes
Government had decided to ask employees to pay more towards the costs of operating these schemes in exchange for their retention. They separately commissioned Lord Hutton to investigate long term reform of public service pensions from April 2015.
Details of the enw contributions and advice and notification papers which you may wish to provide to all TPS members are in our new TPS section
LGPS members will not see any increases in their contribution rates from April 2012, but some members may see an increase from April 2014. We will post details as they become known, currently expected Summer 2012.
Post 2015 reforms
|Teachers' Pension Scheme- post 2015 reform- Ministerial Statement||AoC response to Independent Public Sector Pensions Committee|
|Interim Hutton report- October 2010||AoC response for Final Hutton Report|
There is a substantial quantity of literature being produced in relation to this, which we will post here as it becomes available.
GAD published their report on demographic experience within the LGPS in September 2011
Please sign up for our monthly pensions briefings which will carry more detail and explanation by adding them to your preferences when logging in. Please contact Julian Gravatt if you have any questions about the proposed reform of LGPS or TPS pensions or and other pension questions.