Decision details

2025 Valuation Process and Timetable

Decision Maker: Pension Fund Committee

Decision status: For Determination

Is Key decision?: No

Purpose:

The planning phase of the triennial valuation of the Lancashire County Pension Fund ('Fund'), which ultimately determines future levels of employer contributions, is currently in progress.

The valuation, once complete, will be based on the position of the Fund as at 31st March 2025. This report sets out the timetable to achieve the valuation process and setting of new employer contribution rates.

Decisions:

The Committee considered a report on the timetable for the planned valuation of the Lancashire County Pension Fund at 31 March 2025 and the setting of new employer contribution rates. The report included an update on the change to the employer covenant for colleges and how it might affect their treatment in the valuation. 

 

Resolved: That the timetable for the 2025 valuation of the Lancashire County Pension Fund and associated training expectations for Committee members, as set out in the report presented, are noted.

 

Divisions Affected: (All Divisions);

Contact: Julie Price Email: Julie.Price5@lancashire.gov.uk.

Report author: Julie Price

Date of decision: 06/12/2024

Decided at meeting: 06/12/2024 - Pension Fund Committee

Accompanying Documents: