Children, Schools and Families written question – answered at on 11 May 2009.
To ask the Secretary of State for Children, Schools and Families what the administration costs of the Teachers' Pension Scheme were in each of the last 10 years.
Following a competitive tendering exercise, a seven year contract for the administration of the Teachers' Pension Scheme was awarded to Capita in 1996 . The contract value was £70 million. The contract was re-tendered at the end of the first contract period and Capita was awarded a new seven year contract in October 2003. The value of this contract is £62 million. In both contracts, payments were spread evenly across the contract period.
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