The Government Actuary's Department has published its report to the Ministry of Housing, Communities and Local Government on the 2022 fund valuations, which is required by section 13 of the Public Service Pensions Act 2013.

The purpose of the report is to examine whether the separate 87 fund valuations have achieved the 4 aims set out in the Act – they are compliance, consistency, solvency and long-term cost efficiency.

As part of the process, GAD also analysed other data provided by the funds and their actuaries and undertook engagement exercises with relevant funds. The report includes 3 recommendations for the Scheme Advisory Board, which are being considered.