- Employer pension contribution rate will increase from 16.48% to 23.6% from the 2019/20 financial year.
- DfE have confirmed funding for maintained school to March 2020 and for academies to August 2020.
- There will be a government spending review later in 2019 which will decide whether this funding will extend into 2020/21.
- Will be provided through a grant and a supplementary fund.
- Grant will be allocated on a per pupil basis.
- The supplementary fund is available for schools to apply for if their grant is less than their actual pension cost increase.
- Schools can apply for the supplementary fund if their grant falls short of their actual pension cost increase by more than 0.05% of their overall budget for the period.
- Grants will be paid in September 2019 but amounts are not yet known.
- Details of how to apply for the supplementary fund will be release in Autumn 2019.
Further information can be found here