The Scheme Advisory Board has today published a detailed report that pulls together data from all of the 2022 local fund valuation reports. This 2022 Scheme Valuation Report aims to provide a rich source of information about a range of vital issues for scheme members, employers and other stakeholders. It shows that:

The report also examines the main assumptions used by funds in their 2022 valuations, looking at trends around setting of the discount rate, life expectancy and future expectations for inflation and salary increases. Continually improving the availability of reliable information about the Scheme as a whole is a key function of the Board.

The Board would like to thank Barnett Waddingham for its help in drafting the report.