IRRV Alert - week ending 19th May 2023
News
Consultations
Academy trusts and local government pension scheme liabilities (17 May 2023)
Policy paper
Academy trusts and local government pension scheme liabilities
How we will guarantee payments for outstanding local government pension scheme (LGPS) liabilities when an academy trust closes.
- From:
- Education and Skills Funding Agency
- Published
- 2 July 2013
- Last updated
- 17 May 2023 — See all updates
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Applies to England
Documents
DfE local government pension scheme guarantee for academy trusts
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DfE local government pension scheme guarantee for academy trusts: pensions policy for outsourcing arrangements
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Academies and local government pension scheme (LGPS) liabilities: minute to Parliament
Unnumbered command paperPDF, 114 KB, 2 pages
Details
This guidance is for:
- academy trusts
- LGPS administering authorities
- LGPS actuaries
The DfE local government pension scheme guarantee for academy trusts explains how the guarantee can:
- reduce the pension costs for an academy trust and remove a potential barrier to a local-authority-maintained school seeking to convert to an academy
- enable an administering authority to apply lower risk ratings to an academy trust, on the same level as a local-authority-maintained school
- cover unpaid pension liabilities on a trust closure, where the trust has insufficient funds to service their liability
The parliamentary minute was laid on 21 July 2022 with statements made in the House of Commons and the House of Lords. This minute updates the previous one laid on 2 July 2013.
Published 2 July 2013
Last updated 17 May 2023 + show all updates