With the 2022 valuations in the LGPS in England & Wales now concluded, we have analysed results for 73 of the 86 LGPS funds to understand the national picture. And the results are very positive!

In our LGPS 2022 valuations report, we've created the big picture, looking at the 2022 funding position and contribution rates for the English & Welsh LGPS, along with some other interesting outcomes. 

In summary:

• The past service funding level is strong.
• Administering authorities have, on average, been able to offer some contribution rate relief. 
• The outlook for the long-term sustainability of the scheme is robust. 

This means that the LGPS is in a very strong and enviable position, not just within the public sector pension scheme environment, but also when compared against other open, long-term defined benefit pension schemes. 

If you have any questions on anything covered, please don't hesitate to get in touch with your usual Hymans Robertson consultant or get in touch here. 

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