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Teachers: Pensions

Education written question – answered on 8th November 2011.

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Photo of Bob Stewart Bob Stewart Conservative, Beckenham

To ask the Secretary of State for Education if he will bring forward proposals to carry out an independent valuation of the Teachers' Pension Scheme.

Photo of Nick Gibb Nick Gibb Minister of State (Education)

The Government put valuations of the public service pension schemes on hold while the consultation on the discount rate used to calculate contribution rates was taking place. The outcome of the consultation was announced in Budget 2011, but valuations remain on hold. Valuations are dependent on assumptions about the value of future costs, design of benefits and other factors. Many of these are currently under review as part of the Government's proposed reforms of the public sector pension schemes. A decision on when to undertake the next valuation of the Teachers' Pension Scheme will be taken in due course.

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