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Local Government Pension Scheme 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 us.
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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
Local Government Pension Scheme
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.
Local Government Pension Scheme
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.
Local Government Pension Scheme
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
Local Government Pension Scheme
5. Contacting Us
David Anthony, Head of PensionsE: [email protected]: 01225 713620
Andy Cunningham, Employer Relationship & Development ManagerE: [email protected]: 01225 713612
Local Government Pension Scheme
Any Questions?
