Actuarial Valuation of Merseyside Pension Fund
In accordance with the requirements of Regulation 36 of the LGPS (Administration) Regulations 2008 (as amended), the Fund Actuary must conduct a triennial valuation of Merseyside Pension Fund.
The purpose of the actuarial valuation is for the Fund to determine:
- The expected cost of providing the benefits built up by members at the valuation date (the 'liabilities') and compare this against the funds held by the Fund (the 'assets').
- An appropriate plan for making up the shortfall if there are less assets than liabilities.
- The contributions needeed to cover the cost of benefits that active members will build up in the future and other costs incurred in running the Fund.