Consultation outcome

Local government pension scheme: changes to the local valuation cycle and management of employer risk

This consultation has concluded

Download the full outcome

Partial government response: reform of exit credits

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Partial government response: review of employer contributions and flexibility on exit payments

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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.

Original consultation

Summary

Consultation seeking views on policy proposals to amend the rules of the local government pension scheme in England and Wales.

This consultation ran from
to

Consultation description

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.

Documents

Local government pension scheme: changes to the local valuation cycle and management of employer risk

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Published 8 May 2019
Last updated 2 March 2021 + show all updates
  1. Added to the government response: Guidance on preparing and maintaining policies on review of employer contributions, employer exit payments and deferred debt agreements.

  2. Added government response to proposals on employer contributions and flexibility on exit payments.

  3. Added government response to proposals for further changes to the rules on exit credits.

  4. First published.