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Teachers' Pension Scheme

Volume 450: debated on Monday 16 October 2006

To ask the Secretary of State for Education and Skills (1) how many mature entrants to the teaching profession have sought to transfer their existing occupational and private pension funds into the Teachers' Pension Scheme in each of the last three years for which figures are available; (91963)

(2) if he will list those pension schemes that have refused to sign an indemnity provided by the Teachers' Pension Scheme when their members have sought to transfer their pension funds into the Teachers' Pension Scheme upon entering the teaching profession;

(3) if he will list those pension schemes that have agreed to sign an indemnity provided by the Teachers' Pension Scheme when their members have sought to transfer their pension funds into the Teachers Pension Scheme upon entering the teaching profession.

The numbers of transfer values received into the Teachers' Pension Scheme since 1 April 2004 in respect of teachers entering the profession following a period of employment outside teaching are shown in the table. In all cases, the former pension scheme has provided an indemnity where that has been required.

Number of transfer values received by the Teachers' Pension Scheme (England and Wales)

Number

1 April 2004 to 31 March 2005

3,716

1 April 2005 to 31 March 2006

3,793

7 April 2006 to 30 September 2006

7,475

The transfer-in indemnity requirement is a common feature across all pension schemes. Details of pension schemes that have or have not signed the transfer-in indemnity are not recorded as a matter of routine. Recent transfers-in have included indemnities from the staff pension schemes of Safeway, Kingfisher, Kerridge Computers and BT.