Teachers' Pension Scheme (Hansard, 27 November 2000)

§ Mr. Drew
To ask the Secretary of State for Education and Employment if he will make a statement on the estimated value of funds available to the Teachers' Pension Scheme(a) now and (b) in 20 years. [140098]

§ Mr. Wicks
The Government Actuary estimates that the current value of the notional Fund is just over £100 billion.
The future value of the notional Fund depends on many factors including the level of investment markets, the rates of inflation and earnings growth, and the demographic experience of the Scheme. Consequently, any estimate of the value of the Fund in 20 years' time would not be meaningful.

§ Mr. Drew
To ask the Secretary of State for Education and Employment when he will be in a position to start making annual pension statements for individual members of the Teachers' Pension Scheme. [140097]

§ Mr. Wicks
Some 40,000 benefit statements are issued each year on request to members of the Teachers' Pension Scheme. We are working with the scheme administrators and representatives of teacher and employer associations on a scheme which will see benefit statements issuing automatically to a pilot segment of the membership in 2001.