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<p>On 11 March 2024, the department announced an additional £1.1 billion in the 2024/25
financial year to support schools with the increased Teachers’ Pension Scheme employer
contribution rate.</p><p> </p><p>The £1.1 billion will mean over £920 million for
mainstream schools and over £135 million for high needs settings. Additional funding
will also be provided to local authorities in respect of centrally employed teachers.</p><p>
</p><p>This additional funding will be distributed via the new teachers’ pension employer
contribution grant (TPECG) 2024. Further details can be found here: <a href="https://www.gov.uk/government/publications/teachers-pension-employer-contribution-grant-2024-for-schools-high-needs-settings-and-local-authorities-2024-to-2025"
target="_blank">https://www.gov.uk/government/publications/teachers-pension-employer-contribution-grant-2024-for-schools-high-needs-settings-and-local-authorities-2024-to-2025</a>.
To help with planning, the department has published a ready reckoner for mainstream
schools and academies to estimate what their TPECG 24 allocation for 2024/25 will
be. The ready reckoner can be found here: <a href="https://view.officeapps.live.com/op/view.aspx?src=https%3A%2F%2Fassets.publishing.service.gov.uk%2Fmedia%2F65f2cf0eff117048966159fc%2FTPECG_2024-25_Calculator.ods&wdOrigin=BROWSELINK"
target="_blank">https://view.officeapps.live.com/op/view.aspx?src=https%3A%2F%2Fassets.publishing.service.gov.uk%2Fmedia%2F65f2cf0eff117048966159fc%2FTPECG_2024-25_Calculator.ods&wdOrigin=BROWSELINK</a>.</p><p>
</p><p>With the extra funding for pension contributions, overall school funding is
rising by £2.9 billion in 2024/25 compared to 2023/24, which takes the total to £60.7
billion and the highest ever level in real terms per pupil.</p><p> </p><p> </p><p>
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