Teachers’ Pension Scheme and universities

That this House notes that employers’ contributions to the Teachers’ Pension Scheme (TPS), of which approximately 58,000 university staff are members, are soon to increase by 5% in England and Wales; further notes, with concern, that while schools and colleges will receive additional funding from the Department for Education (DfE) to cover these increased costs, higher education institutions will not; recognises that many post-1992 university employers who are part of the TPS are facing severe financial difficulties, already resulting in course closures and job cuts; believes this situation will worsen dramatically if the Government refuses to intervene, putting thousands of jobs at risk and harming the reputation of the higher education sector; and therefore strongly urges the DfE to commit to providing additional funding for universities to cover the increase in TPS contributions in order to prevent this crisis.