McCloud clarity allows public schemes to finish valuations

Comes after cost-control mechanism was paused following 2019 McCloud judgement

Hope William-Smith
clock • 2 min read
HM Treasury: "As uncertainty recedes those valuations can now complete."
Image:

HM Treasury: "As uncertainty recedes those valuations can now complete."

Amendments to the public sector scheme cost control framework made by the Government Actuary’s Department (GAD) meet the government’s objectives, HM Treasury has confirmed.

The cost control mechanism is designed to limit the impact of any rise in scheme costs on taxpayers, while also allowing schemes the flexibility to fairly raise benefits for members. Public sector schemes...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Appointments

People Moves: LGIM CIO to chair Investment Association

People Moves: LGIM CIO to chair Investment Association

LGIM's Sonja Laud has already held the role in an interim capacity

PP Online
clock 25 November 2021 • 1 min read
Aon's Dominic Grimley is among those promoted to partner

Aon promotes 13 to partner in wealth and health division

Promotion of 13 UK-based staff across Aon’s DB, DC and investment teams

Jonathan Stapleton
clock 08 November 2021 • 3 min read
Smart joins from British Airways Pensions where he was CEO

Fraser Smart joins Aquila Heywood board

Smart has been appointed as chief strategy officer following his departure from British Airways

Holly Roach
clock 05 November 2021 • 1 min read