Looking back on the last 12 months, it’s amazing to think of the changes that have occurred in the economic environment. War in Ukraine impacting on global supplies of raw materials, foodstuffs and energy, inflation running at a level not seen since the early 1990s and constant revisions of economic growth and recession prospects.

Given all this, it’s not surprising that funding levels have changed over this period. But it may be surprising that the direction of travel has been upwards (especially with a 10.1% benefit increase in April 2023).

With this in mind, we've created this 60-second summary that explores:

• The current position
• Why funding levels are increasing
•  What LGPS funds should do

If you have any questions, please get in touch.