Corporate report
Teachers’ pension scheme verification of cost of new scheme design
Verification report of the cost of the design of the new teachers’ pension scheme.
Documents
Details
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.