WHITEHALL

Actuarial firms are missing the point

Consistent comparison between local government pension funds is badly needed, writes William Bourne.

The Government's Actuarial Department (GAD) quietly published over the summer a ‘dry run' of the standardised comparison it will make of LGPS Funds as part of the 2016 triennial valuation (‘Section 13').  

The dry run used the 2013 numbers, and focused on compliance, consistency, solvency, and long-term cost efficiency.  

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