UK - NAPF CONFERENCE- Local Government Pension Scheme funds have the flexibility to smooth out drops in funding levels, Mercer Human Resource Consulting European partner Chris Hull told delegates.
Hull said this year’s actuarial valuations would show big drops on 2001 levels but their government backing and long-term outlook means LGPS funds should avoid a “knee-jerk” reaction.
Hull used Mercer’s “Evolve” modelling software to demonstrate the implications of market movements on the LGPS, claiming financial security was attainable without the need to “mortgage the future”.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.
The lifetime allowance will rise to £1,054,800 from April next year as the Office for National Statistics (ONS) recorded inflation at 2.4% in the year to September.
The national procurement frameworks for the Local Government Pension Scheme (LGPS) has been expanded to include member data services.