Types of Actuarial Valuation

What is it?

Every three years the Fund's actuary is required to perform a valuation to review each employer's funding position and determine the required level of employer contribution rates. 

How will this effect you as an employer?

Normally, this will result in an adjustment up or down in each employer's contribution rates with the aim of setting a rate which gives a 75% chance of reaching 100% funding over the assessed funding time horizon. However, the approach will vary between different categories of employers, and the Fund will take into account individual employer circumstances (such as any pooling or risk sharing arrangements in place).

The effective date of new employer contribution rates resulting from a triennial valuation is the 1 April following the year of the valuation. Employer contribution rates are formally stated in a 'rates and adjustment certificate'. The latest employer contribution rates can be found in the contributions section of this site. 

Visit the Valuations page to view the latest report.