Pensions Line - Devon Funding Strategy Statement

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      May 2017

Devon Funding Strategy Statement

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.


Employer Liaison Team


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