TPT announces new pension scheme for the education sector

News | Updated: 21.02.19 Share this:
TPT announces new pension scheme for the education sectorTPT Retirement Solutions (TPT), one of the leading workplace pension schemes in the UK, has launched a new pension scheme specifically for education professionals which will operate alongside its existing Independent Schools’ Pension Scheme.

The new Pension Scheme for the Education Sector (PSES) has been developed to offer a more flexible solution to retirement provision. The Scheme includes both Defined Contribution (DC) and Defined Benefit (DB) pension provision, to give both employers and members the flexibility to meet their needs. 

The new Scheme is open to employer applications from 1 March 2019 and to membership from 1 September 2019.

Mike Ramsey, Chief Executive at TPT Retirement Solutions, said:

 Many schools are facing a large increase in their contributions to the Teachers’ Pension Scheme later this year and our new scheme offers schools and educational organisations an option that includes both DC and DB provision. We already work with over 200 schools and look after the pensions of over 25,000 people working in the education sector. This is an exciting step forward for TPT as we grow our business and we look forward to working with more schools.
Find out more on the PSES Employer webpages, organisations interested in the Scheme can contact TPT for more information on 0845 123 6614 or via email at employerrelations@tpt.org.uk
 

Related news & insights

TPT has been granted Master Trust authorisation from The Pensions Regulator (TPR).
DB schemes face an uncertain future, which is likely to demand they pursue more diversified investment strategies to achieve long-term security, according to leading economist Dr Andrew Sentance CBE.
TPT recently hosted a major industry event on the importance of DB consolidation with leading economist Dr Andrew Sentance CBE and journalist and political commentator Andrew Marr.