Local Government Pension Scheme (LGPS) administering authorities are required by law to prepare and publish a Funding Strategy Statement (FSS). The FSS plays a central role in explaining how the Fund plans to meet its long‑term pension commitments in a way that is fair, transparent and financially sustainable.
LGPS benefits are guaranteed by statute, meaning members’ pensions are secure. The FSS sets out how the Fund manages the cost of providing those guaranteed benefits over many decades. It outlines the Fund’s approach to balancing stability for employers, affordability for taxpayers, and security for members, while recognising that each employer participating in the Fund has its own circumstances and risk profile.
The statement also strengthens accountability by improving transparency around how funding decisions are made. It explains the assumptions used by the Fund’s actuary, how contributions are set, and how risks are monitored and managed over time.
Overall, the Funding Strategy Statement provides a clear statutory framework that guides the administering authority in managing the Fund’s long‑term liabilities, ensuring that pension promises can be met both now and in the future.
Copies of the FSS
Please click the links below for copies of the statement:
Funding Strategy Statement 2026
Funding Strategy Statement 2023
Funding Strategy Statement 2021
Funding Strategy Statement 2020
Funding Strategy Statement 2017
Funding Strategy Statement 2014
Funding Strategy Statement 2011