Most schools offer two types of pension schemes.  Local Government or Teachers Pension scheme.  Our pension service is tailored to your requirement whether you are looking for a partially or fully managed pension administration for schools. 

Research has shown than in recent years, the accuracy of returns submitted to Teachers Pension by schools is questionable. For example, AVC contributions paid to the wrong account, incorrect AVC percentage rates implemented, pensioning non pensionable pay elements, not implementing added pension and in more serious cases, not collecting any pension at all.

It is important that the scheme is administered correctly which is where we can help.  With over 12 years experience submitting annual pension returns for Local Government and NHS Pension schemes, we ensure that the employees and employers pension have always reconciled back to the existing payroll records. 

• Our systems produce pension statements for your staff, a list of the monthly payments made reconciling back to the annual returns total.

• As a BACS Approved Bureau, we can automatically pay the pension remittance direct to The Local Government Pension Scheme or Teachers Pension and any external AVCS to Prudential. Interest and penalties are due for late payment.

• Our payslips can display Added Voluntary Contributions as well as Additional Pension which can be customised with your Schools logo.

• Our systems is designed to produce pension and salary statements to answer any pension requires raised by either Local Government Pension Scheme or Teachers Pension.

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Schools Pensions Administration

We keep abreast of any changes to the  Local Government Pension Scheme or Teachers Pension legislation. We normally liaise with your personnel department to ensure the administration is accurately administered. 

Teachers Pensions

Teachers Pensions administers this final salary scheme for the Department for Children, Schools and Families. School teachers are deemed to have joined the Teachers Pension Scheme unless they opted out.  

• Employees contribution 6.4%
• Employers contribution 14.1%
• Past Added years for existing contracts.
•  Added pension is available in multiples of £250 up to £5000.
• Free standing additional voluntary contributions with Prudential is available.

New employees can rejoin the scheme if they change their mind or opt out again if their personal circumstances change.

Local Government Pensions Scheme

The Local Government Pension Scheme (LGPS) is available to public sector employees and currently has 3.5 million members.

• Employees contribution 5.5 - 7.5% depending on whole time equivalent pay band. The pay bands are index linked and adjusted every April
• Employers contribution 14.1%.
• Added pension is available in multiples of £250 up to £5000.
• Free standing additional voluntary contributions is available.

New employees should be given a guide to the Scheme as it is good practice for teachers to be given the chance to make an informed decision by providing them with a guide to the scheme and seeking advice of an independent financial adviser. 

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This page was last updated 20/02/2010