Actuarial Valuation as at 31 March 2007
FORMAL REPORT
Introduction

The Fund's actuary reviews and amends employer contribution rates every 3 years. The last actuarial valuation was based on Fund membership as at 31 March 2007. The revised employer contribution rates came into effect on 1 April 2008.

When the actuarial valuation has been completed, the actuary prepares a report. This analyses scheme membership by type, assesses the Fund's financial position (viz. are the Fund's assets sufficient to meet its projected liabilities?), sets out the assumptions for future inflation and investment returns and then provides a schedule of the contribution rates for each of the Fund's employing bodies. These rates are set at a level sufficient to secure the ongoing viability of the Fund. Scheme members are reminded that their own contribution rates are fixed by statute and that it is the employing bodies who must make good any shortfall in Fund assets relative to liabilities.

Copies of the actuary's report will be circulated to all the Fund's employing bodies. The next valuation will be based on membership as at 31 March 2010 with new employer contribution rates coming into effect on 1 April 2011.

Actuarial Valuation Report - 2007

To view as a PDF please follow the link below.
Actuarial Valuation Report - 2007 (346kb)

Actuarial Valuation Report - 2004
Implications for Council Tax 2005

To view as a PDF please follow the link below.
Actuarial Valuation Report - 2004
Implications for Council Tax 2005 (495kb)

Actuarial Valuation Report - 2004

To view as a PDF please follow the link below.
Actuarial Valuation Report - 2004 (171kb)