The Chair of the Trustee Board explained in the 2024 Summary Report that the Trustee of the Scheme and the 成人快手 had agreed to carry out a full actuarial valuation as at 1 April 2024.
The valuation was completed on 13 December 2024 and showed a surplus of £296 million, meaning that the value of the Scheme’s assets was higher than its liabilities. This is a significantly improved position since the April 2022 full valuation, when there was a funding shortfall of £841 million.
As part of this latest valuation, the 成人快手 also agreed that it would amend some existing measures which were originally put in place at the 2022 valuation. Those measures trigger payments to the Scheme in some circumstances in order to protect the Scheme against potentially adverse events. Those amendments have now been implemented and improve the security of members’ benefits in the Scheme.
More information about the results of the 2024 valuation is available here.
The full 2024 Valuation Report along with a new Schedule of Contributions and Statement of Funding Principles are also now available in the Scheme Documents section.