Measuring the value of local government pension schemes

Valuations of the Local Government Pension Scheme (Scotland) must be undertaken every four years to measure the costs of benefits being provided. Each valuation follows HM Treasury directions and regulations and are carried out by the Government Actuary's Department on behalf of the Scottish Government based on scheme data held at March of the relevant year.

The most recent 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 2020.

The valuation has set the rate payable for the scheme for the period 1 April 2024 to 31 March 2027. In addition, the valuation also measured the movement in the employer cost cap.

Under existing legislation, the next valuation will be based on scheme data as at 31st March 2024 and will set the employer contribution rate for the period 1 April 2027 to 31 March 2031.

You can find the 2020 valuation report and previous valuation reports below:

2020

Valuations Results Report

Valuation Assumptions Report

Valuation Assumptions Summary

Valuation Data Report

Valuation Report

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