Participating employers in the Local Government Pension Scheme (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.
There are some important changes for employers to be aware of under all accounting standards this year. The purpose of this note is to highlight these issues, in particular with relation to participation in other multi-employer plans and changes to disclosure requirements. It is important to be aware of these changes to ensure each employer complies with the relevant regulations.
Read more in our latest briefing note: