News Alert: the 31 March 2019 triennial valuation of the 89 Funds of the Local Government Pension Scheme (LGPS) in England and Wales is underway. Whilst timescales will vary by Fund, results are generally expected by September / October 2019 with any new contribution requirements coming into effect from 1 April 2020.
As a member of our liability management and member options team I have run successful pension increase exchange and transfer exercises. This involves helping clients to understand the new pension freedoms, the members’ viewpoint, what each party needs to do under the Code of Good Practice and tips to improve member engagement.
My clients include private sector pension scheme sponsors where I have helped unlock valuation negotiations by incorporating contingent assets into the valuation package, including contribution switch-offs, negative pledges and escrow accounts.
I also work with Housing Associations, Unions, Universities and other clients in the third sector, and I am familiar with the Social Housing Pension Scheme, Local Government Pension Schemes and Universities Superannuation Scheme. I recognise that clients in these sectors often have a slightly different view to those in the private sector and need to balance rising costs of pensions with adequacy of benefits to their members.
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