Article summary
The Government Actuary Department (GAD) has released its Local Government Pension Scheme (LGPS) 2016 valuation report, which calculates the cost cap cost of the scheme using HM Treasury's valuation directions as at 31st March 2016. Under the Public Service Pensions Act 2013, action must be taken to realign costs which fall outside the employer cost cap for the LGPS (England and Wales) which is set at 14.6% of pay.
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