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Funding Strategy

The purpose of the Funding Strategy Statement (FSS) - [PDF, 148 KB] (link opens in new window) is to establish a clear and transparent fund specific strategy which identifies how employers’ pension liabilities are best met in future years, to keep their contribution rates as nearly constant as possible and to take a prudent longer-term view of funding those liabilities. The current Funding Strategy Statement was approved in December 2010 as part of the 2010 Valuation process.

The FSS will be kept under regular review and will be revised in the event of any significant or material changes arising.

Actuarial Valuation

The 2010 Valuation Report (PDF 1MB - link opens new window) was finalised and approved by Board. This document provides details on the funding position across LPFA’s two sub-funds and notes the assumptions used in coming to these conclusions.

High level results indicate that the Active Sub-fund was 83% funded (up from 82% funded in 2007) and the Pensioner Sub-fund was 77% funded, a similar position as in 2007. Employer contribution rates have therefore remained stable in the main, although allowance has been taken for individual employer circumstances. Please contact our Employer Services Team on 0207 369 6237 for further information.

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