B

Baroness Smith of Malvern (Lab)

Speaking in the House of Lords on 15 June 2026

Debate

Teachers’ Pension Scheme: Automatic Enrolment

Contribution

My noble friend is clearly more expert on elements of the public sector pension system than I am, but the reason why the revaluation has happened in the way that it has is to maintain the sustainability of the very important public sector pension schemes. I am sure that there are discussions to be had about different approaches to the valuation but, for now, my noble friend is right that it is highly likely, as suggested in the letter sent by the Government Actuary’s Department to the Treasury, that there will be a considerable reduction in the average employer contribution rate as a result of that revaluation.

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