What is the Teachers’ Pension Scheme?
The Teachers’ Pension Scheme (TPS) is a statutory, public service pension scheme for members of the teaching profession in England and Wales.
Since 1 April 2015, there are two separate TPS schemes:
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the reformed TPS (sometimes referred to in TPS literature as the ‘2015 Scheme’), which was established under the Public Service Pensions Act 2013 (PSPA 2013) on 1 April 2015 as a career average revalued earnings (CARE) scheme. This scheme is the subject of this Practice Note
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the legacy TPS, which was established by the Superannuation Act 1972 (SA 1972) as a final salary scheme for members who joined before 1 April 2015, This scheme was closed to future accrual on 31 March 2022, subject to the retention of a final salary link in that scheme. For further information, see Practice Note: The legacy Teachers' Pension Scheme
Note that there are separate schemes in Scotland and Northern Ireland which are not covered by this Practice Note.
When the reformed TPS opened, the government took steps to close the legacy
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Public service pension scheme definition
What does Public service pension scheme mean?
A pension scheme: (1) established by or under any enactment; (2) approved by a relevant governmental or parliamentary person or body; or (3) specified as being a public service pension scheme by a Treasury order.
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