Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions...

Local Government Pension Scheme

10 October 2013

2013 Valuation David Anthony – Head of Pensions

Andrew Cunningham – Employer Relationship Manager

Catherine McFadyen – Fund Actuary (Hymans Robertson)

Local Government Pension Scheme

Agenda1. Introduction

2. Presentation of the 2013 Valuation

3. Employer Contribution Rates

4. The process from here

5. Contacting us

5. Questions

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2. Presentation of the 2010 Valuation&

3. Employer Contribution Rates

Our actuary presented separate slides at the time. We can provide employers with this information if you email us.

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4. The process from here

a). Stabilisation PolicyImplemented in 2010 for tax-raising bodies only, renewed in 2013.

Policy stated:i). Employer contribution rates can be frozen from April 2011 to March 2014

ii). Employer contribution rates to change from April 2014, at max of +1/-1% per year in line with the results of the triennial valuation.

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4. The process from hereb). Contribution Rate Relief Policy

Implemented in 2013, for non-tax raising bodies. Employers are split into categories:

*Note: certain restrictions apply

Category Type of Contribution Rate Relief *1 Increase contribution rates up to 1/3 of the way to

the theoretical rate

2 Increase contribution rates somewhere between a 1/3 to 2/3 of the way to the theoretical rates

3 Increase contribution rates somewhere between a 2/3 to all of the way to the theoretical rate

4 Employer pays the theoretical rate

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5. Contacting Us

David Anthony, Head of PensionsE: david.anthony@wiltshire.gov.ukT: 01225 713620

Andy Cunningham, Employer Relationship & Development ManagerE: andrew.cunningham@wiltshire.gov.ukT: 01225 713612

Local Government Pension Scheme

Any Questions?