Why we must strike for pensions: a headmaster explains

"The TPS is a "revenue scheme". There are no investments, no accumulated funds; there is no pension pot. The payments to retired teachers are funded from the contributions made each year by working members. The scheme depends on sufficient income in contributions to offset the outgoing pension payments, and for very many years the income has exceeded the expenditure This excess has been used by successive governments as revenue for public expenditure. The TPS is not subject to the vagaries of the stock market. The value and sustainability of the scheme has not altered in any way si...