Published by on / Academies and education news /

Pension jar and coins

This week the Department for Education (DfE) announced that schools in England would receive an extra £940m to fund increased Teachers’ Pensions contributions in 2019/20. This will come as a welcome boost for schools who have been left in uncertainty when producing Budgets and Forecasts for the coming years.

Schools will be provided funding on a per-pupil basis with an accompanying Supplementary Fund. This fund means that any school facing a shortfall from the formula grant of more than 0.05% of its overall budget can claim extra money to ensure the school is protected. However, schools will need to apply for this Supplementary Fund with more details in come in Autumn 2019.

Maintained schools and academies will be paid using the 2019 to 2020 rates from September 2019 through to March 2020. Academies will also be paid using these rates for the period April to August 2020. Eligible academies will also receive payments from the Supplementary Fund to cover this period. Funding for maintained schools from April 2020, which is the start of their financial year, and further funding for all schools, will be confirmed as part of the wider Spending Review.

The rates being applied as part of the formula are detailed below.

Primary schools

Region Rate per pupil
Inner London £92.20
Outer London £85.29
London fringe £79.85
Rest of England £77.50


Secondary schools

Region Rate per pupil
Inner London £135.71
Outer London £125.55
London fringe £117.53
Rest of England £114.08


Special and alternative provision schools

Region Rate per pupil
Inner London £336.53
Outer London £311.33
London fringe £291.44
Rest of England £282.89


This information will no doubt help schools effectively budget for 2019-20 when preparing these in the coming months. It will also provide Trustees with information to challenge and ensure these are included in the Budget for 2019-20.

Unfortunately though, schools are still in the dark when forecasting for 2020-21 onwards and therefore should continue with the assumption that no funding will be provided until more information is released.

Make sure you download your complimentary copy of Kreston's Academies Benchmark Report 2019 here: http://eepurl.com/ge8wvr

This year the report includes over 350 Trusts representing nearly 1000 schools and is based on those Academies that prepared financial statements for the period ended 31 August 2018 and which were audited by member firms of Kreston UK.

Share this article