Lothian Pension Fund

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Actuarial valuation

Actuarial valuations are carried out every three years to gauge the amount of money needed to pay future pensions. This is then measured against the amount of money the Fund holds to produce a funding level.

The lastest Lothian Pension Fund valuation showed the funding level at 96% as at 31 March 2011. This means that for every £1 of pension due in the future, the Fund has 96 pence in the investment pot to pay for it. In 2005 and 2008 the funding level for Lothian Pension Fund was 85% but recent changes including pension increases being linked to the Consumer Price Index and the way life expectancy is treated has shown an increase in the funding level.

Funding Level
	2008	2011
Past Service Liabilities	3,427	3,619
Market Value of Assets	2,903	3,477
Surplus / (Deficit)	(524)	(142)
Funding Level	85%	96%

Scottish Homes Pension Fund

The Scottish Homes Pension Fund funding level was 85% in 2005 and 85.9% in 2008 and was 86.3% at 31 March 2011.

Lothian Buses Pension Fund

The Lothian Buses Pension Fund is now closed to new members. The funding level in 2005 and 2008 was 96% and rose to 112.4% in 2011.

Valuation Reports