§ Mr. YeoTo ask the Secretary of State for the Environment, Transport and the Regions (1) when the last actuarial valuations of local authority occupational pension funds were carried out; [7886]
(2) at what intervals actuarial valuations of local authority occupational pension funds are carried out; [7887]
(3) how many local authority occupational pension funds were calculated to be in surplus at the time of the last actuarial valuation. [7889]
§ Ms ArmstrongThe Local Government Pension Scheme Regulations 1995, which control this statutory scheme in England and Wales, requires actuaries, as part of each triennial valuation of the 87 separate local authority funds, to set an employer contribution rate to ensure solvency having regard to existing and prospective liabilities and the desirability of maintaining as constant a rate as possible. At the last valuation in 1995, all local authority pension funds complied with this requirement, and at that time the actuaries were able to report that 20 funds were actuarially assessed as having assets in excess of their liabilities.
§ Mr. YeoTo ask the Secretary of State for the Environment, Transport and the Regions what was the total dividend income received by local authority occupational pension funds during the most recent available financial year. [7888]
§ Ms ArmstrongInformation is only available to my Department on total investment income for the Local Government Pension Scheme, inclusive of UK and overseas dividend income, gilts and property. In 1995–96 the figure for England and Wales amounted to £2.1 billion.