The second hike in teachers’ pension contributions has been ratified by the Department for Education, sparking anger among teachers and heads.
Teachers earning less than £26,000 a year will not see an increase in contributions this year. However, others will pay increased contributions of between 0.6 and 2.4 per cent, depending on how much above £26,000 they earn. The table below breaks down the latest rises.
The changes are part of the three-year plan to increase teachers’ contributions ultimately by 3.2 per cent (from 6.4 to 9.6 per cent) by 2014/15.
Unions are angry, arguing that when combined with an increase in the retirement age to 66 by 2020, the move to a career-average scheme, and the change in inflation link from RPI to CPI, increased contributions are unjustifiable.
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