Corporate report

Teachers' pension scheme (England and Wales) resource accounts 2006 to 2007

This document contains a financial summary and statements of the teachers' pension scheme resources for 2006 to 2007.

• From: Department for Education and Skills
• Published: 18 July 2007

This was published under the 2007 to 2010 Brown Labour government

Documents

Teachers' pension scheme (England and Wales) resource accounts 2006-07: (for the year ended 31 March 2007)

Ref: ISBN 9780102947533, HC 872

PDF, 654 KB, 43 pages

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Details

The teachers’ pension scheme (TPS) is an unfunded, contributory, public service occupational pension scheme, governed by statutory regulations.

These accounts cover changes to the TPS, including:

• raising the normal pension age to 65 for new entrants
• a faster accrual rate for members with normal pension age of 65
• introduction of two-tier ill health arrangements
• replacement of past added years with an additional pension provision
• the introduction of a cost sharing arrangement on the scheme’s funding between employers and employees

Published 18 July 2007