| StorageSite | UCL Institute of Education |
| AdminHistory | In 1885 Trust started a provident fund to provide for the pensions of its teachers. Initially the fund was administered by a board of Trustees but the management of the fund was passed onto the Imperial Life Insurance Company in 1889 (which later became the Alliance Insurance Co.). In 1918, in reaction to Education Act and the schemes to raise the salaries of teachers, The School Teachers (Superannuation) Act, 1918, introduced generous system of allowances, which provided for death gratuities and short service gratuities for both certified and uncertified teachers in all schools aided by the Board of Education. It was at first non-contributory, but in 1922 a 5 percent charge was placed. This was later confirmed by the 1925 Teachers (Superannuation) Act, which also asked for an equal 5 percent from the employer. Many of the Trust teachers were part of the scheme, as those who had been part of the Trust provident fund transferred in 1926. The Trust had to amend its policy as the Superannuation Act was amended and new acts were passed in 1937, 1944, 1947, and 1952. In 1925 the Trust also registered a pension scheme for secretarial staff in the schools from the London Life Association Ltd. This pension scheme was closed to new entrants in 1954 and a new scheme was introduced with the Alliance Assurance Co. Ltd, which was also open to all administrative staff in the Trust. |