The initial results of the 30 September 2015 actuarial valuation for the Scottish Housing Associations’ Pension Scheme (SHAPS) are expected to be revealed at the employer forums, to be held in November. We estimate that the funding position of SHAPS will have improved, however, deficit recovery contributions and future service contributions are likely to increase. Housing Associations should, therefore, start planning now to mitigate any SHAPS cost increases.
This briefing note covers:
- an overview of what has happened since the last valuation
- future service contributions
- abolition of contracting out
- what to do next