Every three years the Pension Fund undergoes a ‘re-valuation’ of its assets and liabilities.
The valuation is a health check to see if the Fund’s assets are sufficient to meet its liabilities. It is carried out by the actuary to the Fund, Barnett Waddingham LLP.
The key purpose of the valuation is to set employer contribution rates for the forthcoming valuation period - 1 April 2026 to 31 March 2029.
The full 2025 valuation report is published in our Reports section. This section also includes an archive of previous valuation reports dating back to 2004.