Spence helps you manage your LGPS costs and risks with strategic advice on contributions, funding targets, and alternative pension options.
As a participating employer in a Local Government Pension Scheme (LGPS), you could be a charity or not-for-profit organisation or a public sector outsourcer.
You may be a “scheduled body” in which case you have to be in LGPS, or an “admitted body” in which case it can be possible to exit LGPS.
You experienced increasing LGPS contribution rates during the 2010s, but in the 2020s you’ve seen significant improvements in LGPS funding levels, and in some cases reductions in employer contributions.
But your LGPS exposure remains a risk, and deficits could re-emerge in the future. The funding position, particularly on a cessation basis, remains volatile with assets generally not matched to the assessment of the liabilities.
You may therefore be wanting to understand your options, if you are either a scheduled body or an admitted body.
Support at triennial valuations, negotiating cash contributions, funding targets and recovery plans with the funds.
Advice and implementation of strategic options for participation in LGPS, including exit credits, subsumption agreements, guarantees, deferred debt agreements, debt spreading arrangements, LGPS mergers and opt-out arrangements for employees.
Spence has worked with 100s of employers in LGPS, and implemented all of the main solutions available to employers for managing their LGPS costs and risks.
Spence provide straightforward, cost effective advice, utilising this depth of experience.
