Sector leaders warn scheme becoming 'unaffordable' due to cost increases and looming threat of extra taxes under a Labour governmentFurther schools are now enticing staff to leave the scheme with cash offers of around £2,000 in some cases, though union leaders have said these are “irresponsible”, with pension experts warning staff to “carefully consider” whether they want to accept the payments.. But, in September 2019, employers went from having to pay 16.
Niamh Sweeney, deputy general secretary of the National Education Union , said some employers were offering staff a one-off payment of £2,000 to leave the TPS. He added: “In particular, you need to think about how you will fund your retirement without the security of a guaranteed income for life from your employer. Anyone who isn’t sure about what to do should speak to a regulated adviser to better understand their options and the impact of any decision they take.”