Where the Olympic rings represent the five different continents of the world, the areas of the consultation also relate to five different areas; the frequency of local funding valuations, interim valuations, exit payments, exit credits and higher & further education membership of the LGPS.
It is important that LGPS Funds have a policy to deal with ill health retirement risk. Although relatively rare, ill health retirements can be costly. The 2019 valuation is a good opportunity to put a policy in place.
Assessing employer covenant is becoming more and more important as the number and types of employers in the LGPS grows.
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.