Independent schools briefing, Q2 2026

On 19 May 2026, the Minister for Pensions confirmed the new SCAPE discount rate for the 2024 Teachers’ Pension Scheme (TPS) valuation. As a result, new TPS employer contribution rates will fall from April 2027 – according to documents published on GOV.UK.

First Actuarial case studies

BACB

At London-based British Arab Commercial Bank (BACB), there was an increasing focus on getting a better deal for members of the Defined Contribution (DC) Scheme. First Actuarial helped BACB move the Scheme to a master trust, delivering time and cost savings while improving the member experience.

Standard Group

Independent trustee ZEDRA approached First Actuarial to help take the Standard Group (UK) Pension Scheme through a £26m buy-in and wind-up. First Actuarial supported the Trustee throughout the process, with its end-to-end risk transfer service.

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.