The Pensions Advisory Service 2013 2016 Corporate and Business Plan
Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions...
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Transcript of Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions...
![Page 1: Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions Andrew Cunningham – Employer Relationship Manager Catherine.](https://reader036.fdocuments.us/reader036/viewer/2022082723/5a4d1b3f7f8b9ab0599a0705/html5/thumbnails/1.jpg)
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)
![Page 2: Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions Andrew Cunningham – Employer Relationship Manager Catherine.](https://reader036.fdocuments.us/reader036/viewer/2022082723/5a4d1b3f7f8b9ab0599a0705/html5/thumbnails/2.jpg)
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
![Page 3: Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions Andrew Cunningham – Employer Relationship Manager Catherine.](https://reader036.fdocuments.us/reader036/viewer/2022082723/5a4d1b3f7f8b9ab0599a0705/html5/thumbnails/3.jpg)
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.
![Page 4: Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions Andrew Cunningham – Employer Relationship Manager Catherine.](https://reader036.fdocuments.us/reader036/viewer/2022082723/5a4d1b3f7f8b9ab0599a0705/html5/thumbnails/4.jpg)
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.
![Page 5: Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions Andrew Cunningham – Employer Relationship Manager Catherine.](https://reader036.fdocuments.us/reader036/viewer/2022082723/5a4d1b3f7f8b9ab0599a0705/html5/thumbnails/5.jpg)
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
![Page 6: Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions Andrew Cunningham – Employer Relationship Manager Catherine.](https://reader036.fdocuments.us/reader036/viewer/2022082723/5a4d1b3f7f8b9ab0599a0705/html5/thumbnails/6.jpg)
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
![Page 7: Local Government Pension Scheme 10 October 2013 2013 Valuation David Anthony – Head of Pensions Andrew Cunningham – Employer Relationship Manager Catherine.](https://reader036.fdocuments.us/reader036/viewer/2022082723/5a4d1b3f7f8b9ab0599a0705/html5/thumbnails/7.jpg)
Local Government Pension Scheme
Any Questions?