A “considerable reduction” to the amount schools contribute to teachers’ pensions is “highly likely” following a revaluation of the scheme, a minister has revealed. But teachers’ contributions and pension pots are not expected to be affected by the change. Schools currently pay a fee equivalent to 28.6 per cent of teachers’ wages every year into the teachers’ pension scheme. But speaking in the House of Lords yesterday, skills minister Jacqui Smith said the rate is expected to drop significantly amid a review of the amounts paid into public sector schemes. “[Rates] have gone from 16.48 per cent in 2019 to the current 28.6 per cent,” she said. “It is highly likely… that there will be a considerable reduction in the average employer contribution rate as a result of that revaluation.” Any change would come into effect next April and would remain in place for four years. £12bn lower Smith noted that the government actuary’s department has written to the Treasury stating the “average employer contribution rate across the unfunded public service pension schemes, of which …