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Important information for Devon employers
Following the 2013 Actuarial Valuation, the Devon Pension
Fund is revising its Funding Strategy Statement.
The Funding Strategy Statement sets out the Fund’s
policies to:
- Establish
a clear and transparent fund-specific strategy that will identify how
employers’ pension liabilities are best met going forward.
- Support
the desirability of maintaining as nearly constant a primary contribution rate as
possible, as defined in Regulation 62(5) of the Regulations.
- Ensure
that the regulatory requirements to set contributions to meet the future
liability to provide scheme member benefits in a way that ensures the solvency
and long-term cost efficiency of the fund are met.
- Take
a prudent longer-term view of funding those liabilities.
The Fund is required to consult employers on the content of
the Funding Strategy Statement. A draft of the revised strategy was considered
by the Devon Pension Board and can be found here. If you have any
comments on the draft Funding Strategy
Statement, please submit them to Martyn Williams by Wednesday 31st May 2017. These comments can then be considered by
the Investment and Pension Fund Committee at their meeting on 16th
June, when the revised Funding Strategy Statement will be considered and a
final version approved.
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