Local Government Pension Scheme
The question
To ask the Secretary of State for Housing, Communities and Local Government, if he will make an assessment of the potential impact of staffing levels in local government on the financial sustainability of the Local Government Pension Scheme.
Answered by Alison McGovern
The Local Government Pension Scheme is well funded, with a funding level of 107% at the 2022 fund valuation. The 2025 valuation is currently underway, which will value the assets and liabilities of each fund, and set employer contributions locally to ensure the long term sustainability of each fund.
The potential impacts of change in the number of active members and any redundancies will be taken into account as part of the valuation.
Member pensions and benefits are protected as they are guaranteed in statute and are not affected by the performance of investments or by the structural changes.
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