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Detail of outcome
On 27 February 2020 the government published its response to the proposals for further changes to the rules on exit credits.
On 26 August 2020 the government published its response to the proposals on employer contributions and flexibility on exit payments.
On 2 March 2021 the government published statutory guidance on preparing and maintaining policies on review of employer contributions, employer exit payments and deferred debt agreements.
A further response will be made in relation to the other proposals in the consultation in due course.
The consultation covers the following areas:
- amendments to the local fund valuations from the current 3 year (triennial) to a 4-year (quadrennial) cycle
- a number of measures aimed at mitigating the risks of moving from a triennial to a quadrennial cycle
- proposals for flexibility on exit payments
- proposals for further policy changes to exit credits
- proposals for changes to the employers required to offer local government pension scheme membership
The proposals relate to the Scheme in England and Wales.