Independent schools briefing, August 2025

One major contributor to soaring costs for independent schools has been the Teachers’ Pension Scheme (TPS), which has increased in cost by nearly 75% since 2019. This briefing explores what the 31 March 2024 TPS valuation may indicate, and whether employer TPS costs may rise or fall in April 2027.

First Actuarial case studies

BSRIA

First Actuarial delivered a cost-effective new governance framework to meet the requirements of the general code of practice for the trustees of the BSRIA Pension Scheme.

Usdaw

Trade union Usdaw selected First Actuarial to transform its scheme administration, resulting in improved quality and time-cost savings.

Southern Co-op

First Actuarial's fiduciary management consultants guided the trustees of Southern Co-op through their provider review, delivering fee savings.