Teachers’ pension scheme: proposed changes to scheme regulations
We’d like your views on proposed changes to the Teachers’ Pension Scheme Regulations to enact the first phase of the McCloud Remedy.
Detail
Changes to the teachers’ pension scheme (TPS) rules are necessary to address the age discrimination identified in the McCloud case.
The proposed changes to the regulations would mean the closure of the final salary sections of the TPS to all remaining members. All members would then be in the same section from 1 April 2022.
A further consultation will be held in 2022 which will relate to the second part of the McCloud remedy. This will provide members with a choice of benefits for the period 1 April 2015 to 31 March 2022.
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