2022 LGPS valuation – your questions answered

Three years is not long in terms of pension funding. But so much has happened, socially and economically, since the 2019 valuation.

Asset volatility, a pandemic, a war in Europe, high and probably higher future inflation and interest rates, an ever-increasing focus on climate change and regulatory changes could all impact Local Government Pension Schemes (LGPS) funding levels and future contribution rates. 

With all this uncertainty, we felt it was worth examining all of these factors in relation to the 2022 LGPS valuation, to see what impacts they could have. Our Public Sector team has written the below briefing note to give you the answers you need, offering their expert opinions on projected asset performance, liabilities and funding levels.