The 2019 formal valuations for the English and Welsh funds in the Local Government Pension Scheme (LGPS) are fast approaching and preparation is key. As if there wasn’t enough to do already, the cost control mechanism has been triggered.
The new LGPS (Amendment) Regulations 2018 finally emerged on 19 April 2018, and came into force on 14 May 2018. We discuss the arising issues that administering authorities should consider with regard to exit credits.
Our latest note outlines some of the considerations that should be taken if a new employer becomes an admission body within an LGPS Fund under a pass-through arrangement. Read the note to find out more.
As part of the 31 March 2016 valuation process, 15 of the English Funds participating in the Local Government Pension Scheme (LGPS) advised by Barnett Waddingham agreed to take part in a project to comprehensively review their mortality assumptions.
Pensions remain at the forefront of discussions, with changes to the USS, LGPS and TPS potentially resulting in universities conducting significant reviews of their overall benefit provision. Our latest update includes this and more.
These are uncertain times for universities sponsoring DB pension provision. There are many potential options to consider and we have set out in this note some of the key factors along with our thoughts on the possibilities available.
In this briefing note we take a look at the consultation, comment on the questions posed by DCLG and provide some suggestions for further regulatory changes.
On the face of it, the cost of providing public sector pensions seems to never stop increasing, with arguably the majority of the risk of any additional cost falling on the taxpayer rather than the Scheme member. Read more in our latest briefing.
Participating employers in the LGPS are required to account for the cost of providing retirement benefits and reserve for any oustanding pension liabilities. They are also required to make certain disclosures about these schemes in the notes to their accounts.
Running on a parallel fast track, draft governance guidance emerged from the design shed of the Shadow Scheme Advisory Board (SSAB) to support and join the draft LGPS governance regulations Mark 2. Our briefing note reflects on the guidance.