Paul Rowen
Shadow Minister, Work & Pensions, Whip
To ask the Secretary of State for Children, Schools and Families what assessment he has made of the implications of the deficit in the Teachers Contributory Pension Fund.
Jim Knight
Minister of State (Schools and Learners), Department for Children, Schools and Families, Minister of State (Department for Children, Schools and Families) (Schools and Learners)
The Teachers' Pension Scheme is unfunded, so when benefits fall due for payment they are met from Government revenues. There is no actual pension fund or deficit. However, in any particular year, income from contributions from employers and employees is used to offset the costs of paying benefits to pensioners.
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