Every third year the Authority’s independent actuary makes an estimate of the sum of money required to meet the cost of the pension benefits built up by all the members of the Fund. This information then forms part of the calculation which is undertaken to set contributions by employers for the next three-year period. Contributions by scheme members are fixed by regulations.

We also sometimes undertake interim actuarial reviews, either if there have been major changes facing employers or to make sure everything is still on course.

The Actuary’s reports since 2004 are available below: