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 what the total liabilities of the Teachers' Pension Scheme were in each year since 2000.

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

The information requested has been included in the following table. The figures have been taken from the Teachers' Pension Scheme (England and Wales) Annual Accounts and are the only annual liabilities available. It is important to note that the liabilities in the accounts are calculated using different assumptions and methodologies to those used to calculate the liabilities for the regular actuarial valuation of the scheme. As a result the calculation for the annual accounts may produce a figure that is higher or lower than the figure calculated for the valuation. Annual variations in the financial assumptions used can result in large fluctuations in the liabilities produced for the accounts.

Year ending 31 March Liabilities (£ billion)
2001 98.0
2002 103.0
2003 108.0
2004 113.0
2005 119.7
2006 143.0
2007 181.3
2008 176.5
2009 168.6
2010 223.9
2011 192.4
2012 200.6

Prior to 2001 the annual accounts did not include scheme liabilities. Liabilities were included from 2001 as a result of a change in accounting practices.

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