School leaving Teachers' Pension Scheme?

[bojo7]

Apologies if this has already been discussed - I could not find anything relevant.

With the increase in employer contributions to TPS, my school (independent) is considering whether to leave the scheme in September. The teachers are very worried, but I am not sure what we can do, other than leave the school. I would be grateful for any suggestions. I am also interested in whether many other schools are considering this.

I cannot find any information about estimating the effect on my pension. Also, I don't know if options like paying the increase yourself
are available. And if I move to another school later, can I rejoin the scheme?

Thanks!

I don't know the answers to any of your questions I'm afraid, but what do your unions say ? That would be my first call.

It’s worth contacting Wesleyan. They give great advice and they might help.

That would be a killer for me, I’d change schools!

Thanks for the replies. The Union reps are planning to object. I have googled Wesleyan and will suggest the Union seek their help.

Yes, it is a killer for me. I am reluctant to leave as I love the school, but really need to stay in the pension scheme. I don't want to leave and find myself in a school I don't like which then leaves the scheme a year or so later. I know state schools have a year's grace with funding, but I have no idea if loads of schools will be forced to opt out after that.

And if I move to another school later, can I rejoin the scheme?

I opted out of paying pension contributions for one year (other financial priorities) and rejoined with no problems.

I’m pretty sure state schools and academies HAVE to be in the scheme and can’t opt out.-After a year they will just have to find the extra money in their budgets somewhere (probably by cutting jobs). Unfortunately I don’t think independent schools have to participate so they probably can opt out. It’s rubbish for you but the alternative might be them having to cut jobs. What scheme are they proposing instead?
You can’t pay the employer contributions yourself.
You can rejoin the scheme in future if you move to a school that offers it.
If you go to the Teachers Pensions website I believe there are calculators available where you could put in a leave date for September and see what you would have accrued by then.

Hi bojo7,

My school finds itself in a similar position and just wondered what was happening with yours?