The legacy Teachers’ Pension Scheme
Produced in partnership with Gary Delderfield of Eversheds Sutherland
Practice notesThe legacy Teachers’ Pension Scheme
Produced in partnership with Gary Delderfield of Eversheds Sutherland
Practice notes
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 for members who join on or after 1 April 2015. For further information, see Practice Note: The reformed Teachers' Pension Scheme
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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 is the subject of this Practice Note
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 TPS to future accrual, subject to:
- •
the retention of a
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Legacy definition
What does Legacy mean?
The nuclear legacy is represented by: (a) the nuclear sites and facilities operated by UKAEA and bnfl which were developed between the 1940s and the 1960s, including the wastes, materials and spent fuels they produced; and (b) the magnox fleet of nuclear power stations designed and built in the 1960s and 1970s and operated on the Government’s behalf by BNFL, and the plant and facilities at Sellafield used for the reprocessing of Magnox fuel as well as all associated wastes and materials.
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