All Local Government Pension Scheme (LGPS) funds in Scotland are required to complete actuarial valuations as at 31st March 2023.
The valuation is a health check on the each of the funds. It also sets the level of contributions which employers need to pay into their fund for the next 3 years.
The valuation has no effect on scheme members, their benefits or their contributions, which are fixed by the regulations, not by the fund.
SPF has received initial results of its valuation from its actuary, Hymans Robertson. These are:
| Valuation Date | 31 March 2020 | 31 March 2023 |
Total Liabilities Total Assets | (£m) 19,744 20,941 | (£m) 18,970 27,872 |
Surplus Funding Level | 1,197 106% | 8,902 147% |
Further details are available here: Supplementary September Pensions in Partnership (PDF) [623KB]
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