As at the end of January 2020, 111 independent schools have withdrawn from TPS. A further 115 are actively discussing APTIS with Aviva as an alternative defined contribution scheme. We believe other schools are considering other DC providers or are awaiting the outcome of the consultation on the “mixed economy/phased withdrawal”. Many schools are considering their options and a number are consulting or preparing to consult staff.
Contact our Education team now.
In conjunction with Harrison Clark Rickerbys and Farrers, the ISBA have published a new briefing note which briefly outlines the various options for schools to consider and in particular, the pros, cons and the principal risks of the emerging “total pay and benefits” option which some schools are considering implementing. The content has the full endorsement of AGBIS and will form part of the agenda for the TPS Briefing day scheduled to be held in London on Monday 20 April 2020. Bookings for this event are open on the ISBA website.
The full guidance note is available in the library and can be downloaded here.