§ Mr. HealdTo ask the Deputy Prime Minister if he will list the local authority public sector pension schemes which are funded; when was the last actuarial valuation of each scheme; what the value was of the assets at the last actuarial valuation of each scheme; and what deficit is disclosed by the last actuarial valuation of each scheme. [103347]
§ Mr. LeslieThe Local Government Pension Scheme (LGPS) is the only funded local authority pension scheme in England and Wales. It is a centrally regulated scheme but is managed and administered locally, in the main, by 86 separate local pension fund authorities who are responsible also for their individual pension funds. The most recent triennial valuation exercise was concluded in 2001. Then, total assets were valued at £85.3 billion with liabilities amounting to £91.5 billion. All the LGPS funds met the specific requirements of the Scheme's regulations concerning solvency, in particular, the need to maintain as constant a rate of employers' contributions as possible.