§ Mr. TippingTo ask the Secretary of State for Education and Employment when she received the Government Actuary's report on the teachers superannuation scheme for the period 1 April 1986 to 31 March 1991; what estimates she has made of the contributions required to meet liabilities; if she will place a copy of the report in the Library; and if she will make a statement. [2471]
§ Mrs GillanMy right hon. Friend received the Government Actuary's report on 21 October 1996. The Department asked for the report to be drawn up on the basis that the cost of future premature retirements would be met directly by employers. On that basis, the report recommends the introduction from 1 April 1997 of a combined contribution rate of 13.2 per cent. of salaries—6 per cent. from employees and 7.2 per cent. from employers. The Government Actuary has indicated that if the cost of premature retirement continued to be borne 509W by the scheme, the combined contribution rate would be 14.8 per cent. of salaries. The report was included as part of a package setting out proposals for the reform of the early retirement provisions of the teachers superannuation scheme, issued on 22 October 1996. I am placing copies of the consultation package in the Library. My right hon. Friend will lay the report formally before the House when she has taken decisions following the consultation.