Our suite of online tools for LGPS Funds helps administering authorities manage funds’ pension liabilities more effectively throughout the valuation cycle.

Throughout the valuation cycle, whether it’s getting your data into shape for the valuation, communicating and modelling your employers’ results, or monitoring your employers’ funding positions in between valuations, our online tools give you instant access to information that will help you manage your fund’s liabilities more effectively.

Supporting our online tools is our secure BWebstream Exchange communications portal, which enables all actuarial work to be centrally managed to enable clients to track work in progress as well as securely send and receive sensitive data and advice. Please read more about how BWebstream Exchange has transformed our public sector clients’ workflow, or view our other tools in more detail below.

The LGPS Data Checker providers an online, secure area for carrying out valuation data checks at whole LGPS Fund and individual employer level. 

It allows you to upload member data in Universal Data Capture format to obtain a report on the valuation checks carried out, in order to identify any issues with your data. 

The LGPS Data Checker is a versatile tool which can be used to:

  • Prepare membership data at whole Fund level ahead of submission for triennial valuation, and as a health check in other years. 
  • Provide a regular report, in real time, on data quality on an employer-by-employer basis.
  • Prepare membership data at individual employer level before submission for individual employer work.

How can LGPS Data Checker benefit you?

  • You can run the checks whenever you like, as often as you need to. You can pick up the checking of your data when you have the resource to do so. Time is saved at triennial valuation as checks will have been carried out in other years, which will reduce the number of queries to work through, avoiding a peak of work.
  • You can concentrate on the most important data issues for valuation, saving you time; the failures are ranked by importance into levels 1, 2 and 3.
  • You can identify who your “problem” employers are; it provides clear output that shows where employers are in relation to other employers in the Fund.
  • There is no need to remind us that odd-looking data is actually correct. You can let us know, via the system, where particular failures are nothing to worry about. We call this feature Tell us Once. We understand this feature is unique to the LGPS, saving you time and reducing resources needed.

If you would like to find out more, please get in touch.

Illuminate ME is our online LGPS employer valuation results tool. Basic access provides a website to share employer contribution results, data summaries and funding positions with each LGPS administering authority during the busy triennial valuation period. This enables you to access live employer results as we release them. 

This tool has already played a critical part in work done by clients in engaging with their participating employers about their contribution plans.

For Funds who sign-up for advanced Illuminate ME functionality, there are a number of other features which can be added to your account to enhance your employer engagement capabilities.

How can Illuminate ME benefit you?

  • Download individual employer valuation reports in pdf format which can be sent directly to employers to demonstrate good governance.
  • Model results, by having access to the parameters that are used to set each employer’s rates. For example, you may wish to try out different recovery periods to find affordable contributions or amend the timing of deficit payments. These can be used in meetings with employers to explore various options in real time.
  • View a reconciliation of employer’s balance sheets and primary rates which tell the story of how their position has moved from last valuation to this valuation. This can be added to the valuation schedule if the Fund has the reporting functionality enabled.
  • We can also provide employers’ current cessation positions and display these on the website (and report, if required), which puts a value on the risk to the Fund of an employer exit. 

If you are interested in how Illuminate ME can help you communicate more effectively with your employers at the triennial valuation, please get in touch.

In order to help LGPS Funds and their employers monitor LGPS positions at employer level, we have developed our innovative online tracking tool, LGPS Monitor. 

LGPS Monitor places our standard approach of tracking employer’s assets and liabilities in the hands of administering authorities and employers.  
 

Keeping track of your employers

LGPS asset and liabilities increasingly need to be accurately monitored at individual employer level. 

  • There is anticipated to be a significant long-term impact of COVID-19 on employers’ ability to pay ongoing contributions and deficits on exit.
  • Employers and their advisors now demand accurate and up-to-date Fund information (for example, for year-end accounts).
  • Exit credit legislation means any employer surpluses need to be managed proactively.  

How can LGPS Monitor benefit you?

  • You have instant access to key valuation information and live funding updates for each of your Fund’s employers, saving you time and money.
  • You can demonstrate good governance by delivering professional PDF reports for your committees and employers easily.
  • You can maintain accurate information by setting up a process for us to receive regular investment and cashflow information.
  • You can help employers manage their LGPS pension position; for example, by providing them with indicative cessation reports to help them plan their exit from the Fund.
  • As an employer, you can monitor your own position; we can provide secure access to your section, following agreement with the administering authority.

If you would like a demonstration of this innovative new tool, please get in touch.