Measuring the value of local government pension schemes

Valuations of the local government pension schemes in Scotland must be undertaken every four years to measure the costs of benefits being provided.

Each valuation follows HM Treasury directions and regulations and the first valuation of the Local Government Pension Scheme (Scotland) under these arrangements was carried out by the Government Actuary's Department on behalf of the Scottish Government based on scheme data at 31 March 2014.

That valuation was completed on 4 January 2016 and the results were used to establish an employer cost cap against which future scheme costs will be compared in subsequent quadrennial valuations.

Future valuations will also be used to compare scheme costs against the employer cost cap mechanism.

Any changes arising from the 2020 valuation will apply from 1 April 2024.

Further reading

Valuation Assumptions Report

Valuation Assumptions Summary

Valuation Data Report

Valuation Report

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