A tiered contribution structure has been proposed for the Teachers’ Pension Scheme, to apply from April 2014. The consultation on this, and the proposal to implement the New Fair Deal policy consultation, ended on the 7th of January. The Department for Education will reveal the outcome in February.
The proposed structure is shown in the table below. The structure keeps the same number of tiers and the same salary bands as 2013/14.
|Pensionable annual earnings in relevant year (£)||Contribution Rate in 2014-15||Increase (against 2013-14)|