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Teachers: Pension

Volume 467: debated on Thursday 22 November 2007

To ask the Secretary of State for Children, Schools and Families what the (a) gross and (b) net cost of the teachers’ pension scheme was in each year from 1987-88 to 2007-08. (166681)

Figures for gross expenditure of the Teachers’ Pension Scheme were provided in the answer given to the hon. Member on 1 November 2006, Official Report, column 447W and are repeated as follows, together with net expenditure figures for financial years 1991-92 to 2006-07. The decrease in net expenditure in 2003-04 was a consequence of a refinancing of the scheme which resulted in an increase in the contribution rate to provide for the Teachers’ Pension Scheme meeting the cost of annual pensions increases, which had previously been funded directly by the Exchequer.

Expenditure against the teachers’ pension scheme

All figures shown on cash basis in £ billion

Gross

Net

1991-92

2.161

0.711

1992-93

2.395

0.804

1993-94

2.635

0.992

1994-95

2.709

1.014

1995-96

2.937

1.186

1996-97

3,254

1.422

1997-98

3.643

1.812

1998-99

3.378

1.493

1999-2000

3.577

1.572

2000-01

3.716

1.568

2001-02

3.957

1.626

2002-03

4.205

1.593

2003-04

4.428

0.796

2004-05

4.747

0.885

2005-06

5.099

1.057

2006-07

5.471

1.273