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December 2018

Pensions Costs

The recently announced proposed increase in Teachers’ Pensions Scheme (TPS) employer contributions from 1 September 2019, has shocked the academy sector. Treasury indications predict a rise to 23.6% - an increase of over 40%. Most schools were expecting a 2% to 3%. 

New Academies Financial Handbook 2018

The new handbook came into effect on 1 September 2018.  Although similar to the 2017 handbook, certain key items have been headlined at the front of the 2018 handbook as the “top ten musts” for chairs and trustees. These “musts” focus on three core functions of governance: