In line with other UK public sector pension funds, an actuarial valuation is held every three years. The valuation is the Fund's budgeting exercise. This is the process that assesses the value of the pension liabilities to be paid from the Fund and enables the Fund to plan how to meet these obligations and manage financing risks. To enable the fund to meet the obligations the valuation process determines the employer contribution rates to be paid to the Fund for the following 3 years.
See the attachments section below for copies of previous Valuation reports.