皇冠体育app

皇冠体育app Government established a cost control mechanism for public service pension schemes to ensure a fair balance of risks between scheme members and the taxpayer. 皇冠体育app employer cost cap for the Local Government Pension Scheme (England and Wales) was set at 14.6% of pay, following the 2013 valuation. If at subsequent valuations the cost of the scheme is outside a corridor above / below the employer cost cap, the Public Service Pensions Act 2013 requires action to be taken to bring costs back to the target cost.

皇冠体育app cost cap cost of the scheme calculated in this cost cap valuation is 1.2% of pay below the employer cost cap. 皇冠体育app result lies within the 卤2% corridor, which means that no changes to benefits or member contributions are required.

皇冠体育app documents published on this page provide further details. Two valuation reports have been published to reflect that the cost cap valuation was paused following the McCloud judgment. 皇冠体育app 鈥榩re-McCloud valuation report鈥� sets out an intermediate value required to calculate the cost cap cost of the scheme. 皇冠体育app 鈥榗ost cap valuation report鈥� sets out the final result of the valuation after the consideration of the remedy of the McCloud discrimination. Both have been prepared in accordance with HM Treasury Directions of 7 October 2021.

皇冠体育app 鈥楢ssumptions, methodology and data report鈥� sets out GAD鈥檚 advice to Department for Levelling-Up, Housing and Communities on the appropriate approach for calculating the cost cap cost of the scheme in light of remedying the age discrimination found by the McCloud judgment.

皇冠体育appse documents rely on two earlier reports from the 2016 valuation: