Three individual Teachers’ Pensions Schemes currently operate in the UK. These are:
- the Teachers’ Pension Scheme (TPS) in England and Wales
- the Northern Ireland Teachers Pension Scheme (NITPS)
- the Teachers' Pension Scheme (TPS) in Scotland
In UK higher education institutions the majority of individual TPS members are academic staff who work in the post-92 universities and HE colleges.
They are contributory schemes administered by Teachers' Pensions (TP) on behalf of the Department for Education (DfE) in England and Wales, by Teachers' Pensions Branch (TPB) on behalf of the Department of Education in Northern Ireland and by the Scottish Public Pensions Agency on behalf of the Scottish Ministers.
They are defined benefit career average schemes. They not only provide a lump sum and regular income after retirement but also provide family or other dependants with financial protection in the event of a member’s death.
