Independent schools briefing, Q3 2022

The effective date of the Teachers’ Pension Scheme (TPS) valuation is 31 March 2020. The main purpose of this valuation is to determine the contribution rate payable by schools from April 2024. In this briefing we take stock, discussing recent developments and their possible impact on the valuation. We also provide guidance on how to plan ahead.

First Actuarial case studies

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.

Oil and Gas Industry

Oil and gas company DB scheme wind-up resulted in generous transfers for members and £3m surplus for employer, with First Actuarial’s help.