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Your school and the Teachers’ Pension Scheme: how we help
Supporting and advising private and independent schools across the UK
We have years of experience working closely with many schools across the UK, providing ongoing support and specialist advice around the Teachers’ Pension Scheme (TPS), other staff pensions and wider employee benefits.
Both schools and teachers have seen their payments into the scheme rise to their highest levels ever. However, for most teachers this doesn’t result in a more generous pension because members have been moved onto a career average basis for future accumulation, rather than final salary.
In addition, some teachers also saw contributions increase due to TPS salary band level adjustment and wage inflation. As a result, they paid more without any corresponding increase in pension benefit.
While every school is unique, those operating primarily as charities or trusts may feel greater pressure to manage the rising costs associated with the TPS.
It’s not just about pensions
Against this background, we consider every option when researching alternative pension and benefit arrangements, whether that is for some or all teachers and/or the wider workforce.
TPS offers ill-health and death-in-service benefits to members. If you are considering reviewing your future participation in the scheme, it’s important to take these elements into account. That’s why our specialist pension and health and protection teams offer comprehensive support, ensuring every angle is carefully considered.
Our expertise
We can now offer further in-depth expertise in this market after the Secondsight team and Punter Southall’s employee benefit specialists joined forces in an acquisition completed early in 2024.
By coming together, we’re adding to a long history of successfully supporting independent schools as they review their benefits.
After the Teachers’ Pension Scheme
If your school leaves the Teachers’ Pension Scheme, our work doesn’t stop there. Framing the benefits of your new pension scheme and how to make the most of them, builds stronger bonds with your staff. We also carry out continuing due diligence on the scheme and ensure legal compliance.
A pension is a long-term investment. The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Pension income could also be affected by interest rates at the time benefits are taken.
Pension savings are at risk of being eroded by inflation.
The tax treatment of pensions in general and tax implications of pension withdrawals will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future.
The value of your investment can go down as well as up and you may not get back the full amount invested.
Past performance is not a guide to future performance and should not be used to assess the risk associated with the investment.
HR teams urged to back National Pension Tracing Day
Campaign marks five years of helping people find lost pensions
Campaign for employers to help employees find ‘lost’ pension pots worth £31.1 billion, according to the latest survey by the Pensions Policy Institute.
Average pot value is £9,470, £13,620 for 55 to 74-year-olds.
Employee benefits consultancy Secondsight urges employers to help staff track down overlooked pensions ahead of National Pension Tracing Day on the last Sunday in October.
As National Pension Tracing Day marks five years, HR and reward teams are being urged to help their employees to unearth mislaid pension pots which could contain buried treasure.
The campaign wants everyone to use the extra hour when the clocks go back on the last Sunday in October to focus on their pensions.
Employee benefits consultancy Secondsight is encouraging employers to use their free toolkit on the
Resources
12 practical reasons to write a will
Considering what happens after death will not be easy for your employees. It can feel unsettling to picture life carrying on without them, which is why many people delay writing a will, telling themselves they’ll “sort it later.” But the reality is that none of us know when that time will come.
Having a will in place means your employee's estate will be dealt with according to their wishes. It will also spare their loved ones from having to deal with working out how to manage their affairs while they’re still navigating their grief. It can cover important issues such as:
Appointing a guardian for any children or dependants
Deciding how to leave their property
Taking steps to protect unmarried partners or stepchildren
Mitigating the amount of Inheritance Tax (IHT) applied to their estate
A Lasting Power of Attorney (LPA) is another important consideration in later-life planning. While we all hope to maintain good physical and mental health, life can change unexpectedly. An LPA means that trusted individuals will be making decisions about key areas of your employees’ lives, such as their healthcare and finances.
In this guide, employees can learn how creating a will and establishing a Lasting Power of Attorney (LPA) can help provide peace of mind for them and their loved ones regarding the future.
Resources
Smart Money September/October 2025
Welcome to our September/October edition of Smart Money. Here’s a brief summary of what’s included in this edition:
On page 03, we look at how the growing awareness of intergenerational wealth transfer, alongside recent changes to Inheritance Tax rules, is prompting more people to reassess their estates and seek professional advice. A substantial proportion of people plan to pass on their wealth to future generations; however, many are unaware of how to do this in a tax-efficient way.
On page 04, we examine the key aspects and potential benefits of Self-Invested Personal Pensions (SIPPs), which offer tax-efficient retirement savings with government top-ups, wide investment choice, and flexible contribution methods. SIPPs can suit both hands-on and managed approaches, making them versatile for different investor needs, but professional advice is often essential for maximising benefits and avoiding pitfalls.
On page 06, we explore how grandparents could support their grandchildren more effectively through tax-efficient savings and investment options such as Junior ISAs, Junior SIPPs and Lifetime ISAs.With thoughtful planning, grandparents can help create meaningful financial security and leave a lasting legacy.
On page 10, we highlight the importance of financial protection to help your employees safeguard their families' lifestyles if income is disrupted by illness, injury, or death. We also explore the value of inheritance planning through trusts to reduce tax burdens and protect assets. By combining these measures, families could help achieve peace of mind and long-term financial resilience.
Resources
The value of financial planning
Financial planning goes beyond just managing money; it’s about helping people create a clearer path to the life they desire, providing them with confidence that their finances are helping to support their goals every step of the way.
When your employees first think about financial planning, it’s natural for them to focus on the numbers. They might be interested in reducing their tax bill, maximising their investments, or ensuring they are on track for retirement.
While financial planning can certainly help in these areas, it goes far beyond that. It is about helping your employees feel more confident about the future, make better informed choices, and enjoy the lifestyle they want today and in the future.
When your employees first approach a financial professional, it’s often because they need support with a specific question or concern, such as:
Can they afford to invest more of their wealth?
How much do they need to save to enjoy their lifestyle in retirement?
What can they do to reduce Inheritance Tax for their loved ones after they're gone?
While a financial planner can help them answer questions like those above, the process of financial planning is even more all-encompassing.
This guide explores how financial planning could deliver lasting benefits. It could help your employees strengthen their financial position, keep them focused on their goals, encourage them to reflect on what truly matters to them, and guide them in taking steps to achieve those goals.
Resources
HR teams urged to back National Pension Tracing Day
Campaign marks five years of helping people find lost pensions
Campaign for employers to help employees find ‘lost’ pension pots worth £31.1 billion, according to the latest survey by the Pensions Policy Institute.
Average pot value is £9,470, £13,620 for 55 to 74-year-olds.
Employee benefits consultancy Secondsight urges employers to help staff track down overlooked pensions ahead of National Pension Tracing Day on the last Sunday in October.
As National Pension Tracing Day marks five years, HR and reward teams are being urged to help their employees to unearth mislaid pension pots which could contain buried treasure.
The campaign wants everyone to use the extra hour when the clocks go back on the last Sunday in October to focus on their pensions.
Employee benefits consultancy Secondsight is encouraging employers to use their free toolkit on the
Resources
12 practical reasons to write a will
Considering what happens after death will not be easy for your employees. It can feel unsettling to picture life carrying on without them, which is why many people delay writing a will, telling themselves they’ll “sort it later.” But the reality is that none of us know when that time will come.
Having a will in place means your employee's estate will be dealt with according to their wishes. It will also spare their loved ones from having to deal with working out how to manage their affairs while they’re still navigating their grief. It can cover important issues such as:
Appointing a guardian for any children or dependants
Deciding how to leave their property
Taking steps to protect unmarried partners or stepchildren
Mitigating the amount of Inheritance Tax (IHT) applied to their estate
A Lasting Power of Attorney (LPA) is another important consideration in later-life planning. While we all hope to maintain good physical and mental health, life can change unexpectedly. An LPA means that trusted individuals will be making decisions about key areas of your employees’ lives, such as their healthcare and finances.
In this guide, employees can learn how creating a will and establishing a Lasting Power of Attorney (LPA) can help provide peace of mind for them and their loved ones regarding the future.
Resources
Smart Money September/October 2025
Welcome to our September/October edition of Smart Money. Here’s a brief summary of what’s included in this edition:
On page 03, we look at how the growing awareness of intergenerational wealth transfer, alongside recent changes to Inheritance Tax rules, is prompting more people to reassess their estates and seek professional advice. A substantial proportion of people plan to pass on their wealth to future generations; however, many are unaware of how to do this in a tax-efficient way.
On page 04, we examine the key aspects and potential benefits of Self-Invested Personal Pensions (SIPPs), which offer tax-efficient retirement savings with government top-ups, wide investment choice, and flexible contribution methods. SIPPs can suit both hands-on and managed approaches, making them versatile for different investor needs, but professional advice is often essential for maximising benefits and avoiding pitfalls.
On page 06, we explore how grandparents could support their grandchildren more effectively through tax-efficient savings and investment options such as Junior ISAs, Junior SIPPs and Lifetime ISAs.With thoughtful planning, grandparents can help create meaningful financial security and leave a lasting legacy.
On page 10, we highlight the importance of financial protection to help your employees safeguard their families' lifestyles if income is disrupted by illness, injury, or death. We also explore the value of inheritance planning through trusts to reduce tax burdens and protect assets. By combining these measures, families could help achieve peace of mind and long-term financial resilience.
Resources
The value of financial planning
Financial planning goes beyond just managing money; it’s about helping people create a clearer path to the life they desire, providing them with confidence that their finances are helping to support their goals every step of the way.
When your employees first think about financial planning, it’s natural for them to focus on the numbers. They might be interested in reducing their tax bill, maximising their investments, or ensuring they are on track for retirement.
While financial planning can certainly help in these areas, it goes far beyond that. It is about helping your employees feel more confident about the future, make better informed choices, and enjoy the lifestyle they want today and in the future.
When your employees first approach a financial professional, it’s often because they need support with a specific question or concern, such as:
Can they afford to invest more of their wealth?
How much do they need to save to enjoy their lifestyle in retirement?
What can they do to reduce Inheritance Tax for their loved ones after they're gone?
While a financial planner can help them answer questions like those above, the process of financial planning is even more all-encompassing.
This guide explores how financial planning could deliver lasting benefits. It could help your employees strengthen their financial position, keep them focused on their goals, encourage them to reflect on what truly matters to them, and guide them in taking steps to achieve those goals.
Resources