Contributions to the Teachers’ Pension Scheme (TPS) by independent schools, universities and colleges are set to ease following a government announcement expected to affect contribution rates from next year.

The government's decision to increase the SCAPE discount rate from inflation plus 1.7 per cent to inflation plus 2 per cent could reduce employer contributions to the TPS by more than £2bn a year, according to analysis from LCP. The change is expected to influence TPS contribution rates from April 2027, with rates due to be announced later this year. LCP estimated that, had the higher SCAPE rate been used at the last valuation, employer contribution rates could have been around 7 per cent lower. LCP partner and head of charity and not-for-profit advisory, Richard Soldan, said the potential reduction highlighted how exposed institutions were to economic assumptions used in pension valuations. LCP partner, Andy Thompson, added that while lower costs would be welcomed by independent schools, universities and colleges, they were unlikely to reverse the trend of some independent schools leaving the TPS due to broader affordability pressures.

Independent Governance Group (IGG) has expanded its national footprint by launching a new regional hub in Birmingham.

The office, supported by a team of eight pensions specialists, takes IGG's UK network to five locations alongside London, Edinburgh, Bristol and Manchester. The Birmingham hub is led by trustee director, Karein Davie, supported by trustee directors, Rachael Collinson and Tim Giles. A formal launch event is planned for early June. Davie said the new hub would help deepen relationships with clients and partners across the Midlands while expanding access to IGG's professional trusteeship, governance and pensions support services. IGG chief executive officer, Andrew Bradshaw, described Birmingham as an "important addition" to the firm's national operating model and claimed it would help make its expertise more accessible to schemes and sponsors across the UK.

Rathbones has launched a Responsible Investment Centre of Excellence, bringing together its stewardship, environmental, social and governance (ESG) integration and sustainable research capabilities into a single function.

The centre will operate across the group and support investment teams through sustainability research, stewardship activities and ESG insights aimed at improving long-term client outcomes. The initiative is supported by a team of 16 specialists across three areas: voting, stewardship and engagement; ethical and sustainable research; and ESG integration. Rathbones group chief executive officer, Jonathan Sorrell, said the centre would help deliver the firm's ambition to build a world-class investment capability and strengthen its responsible investment offering. Head of the Responsible Investment Centre of Excellence, Kate Elliot, added that the new structure would improve the sharing of insights, the prioritisation of engagement activities, and the support available to investment teams across the group.

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