Private school fees are set to rise substantially following a Treasury ruling on teacher pensions, according to the Independent School Council.
The Department for Education (DfE) has said that following a valuation of public service pensions by the Treasury, employer contributions to teachers’ pensions will rise from 16.48 per cent of salaries to 23.6 per cent in September; a 43 per cent increase.
The change is expected to cost private schools around £100m for 2019/20 and up to double that amount in the following year.
State schools will receive £940m from the DfE to meet the extra cost in the first year, but private schools will have to meet this increase from their own income.
Last year saw the highest year-on-year increase in private school fees since 2014 at 3.7 per cent.
Julie Robinson, general secretary of the Independent Schools Council, claimed the pension increase would make the teachers’ pension scheme unaffordable for many schools.
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