Local valuation cycle changes and risk management

Local Government Pension Scheme: Changes to the local valuation cycle and management of employer risk: PLSA response

The consultation published by the Ministry of Housing, Communities & Local Government (MHCLG) sought views on proposed changes to the local valuation cycle and the management of employer risk in England and Wales. 

The PLSA is supportive of many of the measures set out in the consultation, including plans to provide more flexibility in exit payments and the proposals to give funds the power to conduct interim valuations. However, we have concerns over the intention to move the local fund valuation from a triennial to a quadrennial valuation cycle.