Estimated reading time: 7 minutes
The 2019 formal valuations are well progressed. All Local Government Pension Scheme (LGPS) funds will have received the whole funds results. Many employers will know their funding position and contribution rates for the next three years from 1 April 2020.
This has been a very positive valuation and the LGPS goes from strength to strength. On the Section 13 valuation assumptions, the LGPS as a whole will have had enough assets to pay all the past benefits accrued by March 2019.
However, it’s not all rosy and funds need to take the appropriate action. Perhaps the immediate next steps will be for funds to consider cash flow modelling and any changes to their investment strategy, given the continuing maturing of the LGPS.