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TEACHERS SET TO 'STAMPEDE' INTO EARLY RETIREMENT

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Local education authorities fear a 'stampede' of teacher early retirements before April, following a government pro...
Local education authorities fear a 'stampede' of teacher early retirements before April, following a government proposal to make it harder for teachers to take early retirement from the profession, reports the Financial Times (p12).

The government plans to make schools and colleges liable to meet the cost of early retirements, instead of the retirements being funded by the teachers' national superannuation scheme.

Teaching unions are against the proposal as they believe they will drive education standards down as a results of teachers being forced to carry on working past their mid-50s, the FT reports.

The government argues that its plan is necessary for two reasons: that the teachers' superannuation pension scheme is technically £1.5bn in debt, and that too many experienced, high quality teachers are leaving the profession early - last year 13,000 teachers took early retirement.

Employers expect these numbers to increase in the run up to April, the month when the government is expected to put its plan into effect.
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