Appendix A - Actuarial Statement
This statement has been provided to meet the requirements under Regulation 57(1)(d) of The Local Government Pension Scheme Regulations 2013.
An actuarial valuation of the London Borough of Ealing Pension Fund was carried out as at 31 March 2025 to determine the contribution rates with effect from 1 April 2026 to 31 March 2029.
On the basis of the assumptions adopted, the Fund’s assets of £1,714 million represented 112% of the Fund’s past service liabilities of £1,532 million (the “Solvency Funding Target”) at the valuation date. The surplus at the valuation was therefore £182 million.
The valuation also showed that a Primary Contribution Rate of 16.7% of pensionable pay per annum was required from employers. The Primary Rate is calculated as being sufficient, together with contributions paid by members, to meet all liabilities arising in respect of service after the valuation date.
The funding objective as set out in the FSS is to achieve and maintain a solvency funding level of 100% of liabilities (the solvency funding target). In line with the FSS, where a shortfall exists at the effective date of the valuation a deficit recovery plan will be put in