Teachers: Pensions

Education written question – answered on 4th July 2012.

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Photo of Chris Skidmore Chris Skidmore Conservative, Kingswood

To ask the Secretary of State for Education if he will estimate the total annual saving of his proposed changes to teachers' pensions in (a) 10, (b) 20 and (c) 30 years time.

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

The proposed changes to the Teachers' Pension Scheme have been designed to remain within the cost parameters set out by Her Majesty's Treasury following recommendations contained in the Hutton report.

At this point the Department is working to agree the detail of the scheme design, which will be implemented in 2015. Once the scheme design is finalised a valuation will be competed and this would help to allow us to provide an estimate of savings.

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