{"id":96093,"date":"2018-09-27T12:53:39","date_gmt":"2018-09-27T12:53:39","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=4742c19c16439575b68d25150c64cc54"},"modified":"2018-09-27T12:53:39","modified_gmt":"2018-09-27T12:53:39","slug":"press-release-local-government-pension-scheme-s13-review-2013-to-2016","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=96093","title":{"rendered":"Press release: Local Government Pension Scheme S13 review: 2013 to 2016"},"content":{"rendered":"<div class=\"govspeak\">\n<p>The Ministry of Housing, Communities and Local Government has today (27 September 2018) published the first statutory review of the Local Government Pension Scheme under section 13 of the Public Service Pensions Act 2013 covering the period to 2016.<\/p>\n<p>The department is required to report on the Scheme every 3 years.<\/p>\n<p>The department appointed the Government Actuary (GAD) to conduct the review of 91 individual funds which make up the Local Government Pension Scheme. Each fund was assessed in terms of its compliance, consistency, solvency and long term cost efficiency.<\/p>\n<p>The Government Actuary has reported that in aggregate the Local Government Pension Scheme is in a strong financial position and funds have made significant progress since the 2013 valuation based on the criteria.<\/p>\n<p>The report highlights:<\/p>\n<ul>\n<li>total assets for the Local Government Pension Scheme have grown from \u00a3180 billion to \u00a3217 billion<\/li>\n<li>aggregate funding level has improved from 79% to 85%, due in part to better than expected returns on assets and strong returns have continued<\/li>\n<li>total employer contributions received were \u00a36.9 billion per annum on average of which circa \u00a32 billion per annum were deficit recovery payments<\/li>\n<\/ul>\n<div class=\"call-to-action\">\n<p>View the <a href=\"https:\/\/www.gov.uk\/government\/publications\/local-government-pension-scheme-review-of-the-actuarial-valuations-of-funds-as-at-31-march-2016\">final report<\/a> on Gov.uk.<\/p>\n<\/div>\n<div class=\"contact postal-address\" id=\"contact_40\">\n<div class=\"content\">\n<h3>Office address and general enquiries<\/h3>\n<div class=\"vcard contact-inner\">\n<p class=\"adr\">\n<span class=\"street-address\">2 Marsham Street<br \/>\n<br \/>\nLondon<\/span><br \/>\n<span class=\"postal-code\">SW1P 4DF<\/span>\n<\/p>\n<div class=\"email-url-number\">\n<p class=\"contact_form_url\">\n              <span class=\"type\">Contact form<\/span><br \/>\n              <a href=\"http:\/\/forms.communities.gov.uk\/\">http:\/\/forms.communiti&#8230;<\/a>\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">General enquiries:  please use this number if you are a member of the public<\/span><br \/>\n              030 3444 0000\n            <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"contact \" id=\"contact_171\">\n<div class=\"content\">\n<h3>Media enquiries<\/h3>\n<div class=\"vcard contact-inner\">\n<div class=\"email-url-number\">\n<p class=\"email\">\n              <span class=\"type\">Email<\/span><br \/>\n              <a class=\"email\" href=\"mailto:newsdesk@communities.gov.uk\">newsdesk@communities.gov.uk<\/a>\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">Please use this number if you are a journalist wishing to speak to Press Office<\/span><br \/>\n              0303 444 1209\n            <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"contact \" id=\"contact_3149\">\n<div class=\"content\">\n<h3>Social media &#8211; MHCLG<\/h3>\n<div class=\"vcard contact-inner\">\n<p class=\"comments\">Twitter &#8211; <a href=\"https:\/\/twitter.com\/mhclg\">https:\/\/twitter.com\/mhclg<\/a><br \/>Flickr &#8211; <a href=\"http:\/\/www.flickr.com\/photos\/mhclg\">http:\/\/www.flickr.com\/photos\/mhclg<\/a><br \/>LinkedIn &#8211; <a href=\"http:\/\/www.linkedin.com\/company\/mhclg\">http:\/\/www.linkedin.com\/company\/mhclg<\/a><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MHCLG has published the first statutory review of the Local Government Pension Scheme.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/96093"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=96093"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/96093\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=96093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=96093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=96093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}