About the board
In 2015, the Teachers’ Pension Scheme Pension Board was established to offer extra assurance to members, employers, taxpayers, and the government. The board hopes to provide evidence that the scheme is being administered effectively and efficiently. It also ensures the Teachers’ Pension Scheme is run in accordance with rules that were established at the conception of the scheme.
There are four sub-committees on the board. The committees include:
- Service Delivery and Maintenance of Data
- Information to Members and Communications
- Managing Risk and Internal Controls
- Commercial, which focuses on the service that will be required post-2021.
Focal points this year
The Board recently released an executive summary. The summary aims to explain some of the work done over the past year. There have been many areas of activity and challenge. Of direct interest to teachers is how well the scheme communicates with members, which can prevent frustration. Furthermore, they focused on the schemes’ engagement strategy and how well bereavement casework is progressed promptly. These are all matters that impact teachers, day in, day out.
It is encouraging to note that the Board reports a productive year of operation.
The content in this article was correct on 25th April 2019. You should not rely on this article to make important financial decisions. Teachers Financial Planning offers advice on the financial planning for teachers and non-teachers. Please use the contact form below to arrange an informal chat with an advisor and see how we can help you.