Responding to the announcement by Torsten Bell, Minister for Pensions, on the SCAPE discount rate, a University Alliance spokesperson said:
“We welcome confirmation from the Treasury of the new SCAPE discount rate, which sets in train a likely reduction in employer contribution rates to the Teachers’ Pension Scheme (TPS) from April 2027. This offers some relief for Alliance universities, which are legally required to offer the TPS without access to the additional public funding available to schools and colleges that also participate in the scheme.
“We would welcome early clarity from government on the future contribution rates, alongside continued engagement with the sector to ensure universities can plan with confidence and continue delivering for students, employers and local communities.
“University Alliance members are committed to supporting their staff and meeting their pension obligations, but to achieve long-term stability, we will ultimately require a more sustainable funding model for higher education.”
Notes
The Minister’s statement can be found here.
