LGPS proposals: local valuation cycles and exits
The Ministry of Housing, Communities and Local Government (MHCLG) has recently issued a consultation seeking views on proposals to amend the Local Government Pension Scheme (LGPS) in five key areas.
Where the Olympic rings represent the five different continents of the world, the areas of the consultation also relate to five different areas; the frequency of local funding valuations, interim valuations, exit payments, exit credits and higher & further education membership of the LGPS. Watch out for further parallels with the Olympics Games!
"The consultation asks whether the LGPS Fund valuations should move to a quadrennial cycle and the risks that need to be considered."
This briefing note follows on from our blog “Is the LGPS to be saddled with a new valuation cycle?” and gives more detail on the proposals and how these could impact the LGPS Funds and participating employers.
We hope this helps our clients formulate their own views and response to the consultation which closes on 31 July 2019
To continue reading, please download the briefing note below.