Statement from the Scheme Advisory Board to England and Wales.
The Scheme Advisory Board (SAB) to England and Wales has published the following statement:
There has been a lot of disturbing news lately about the fall in stock markets and the potential resultant impact on defined contribution pensions.
LGPS defined benefit pensions are not linked to stock market performance and are set out in statute.
Although short term investment values may vary, the LGPS as a long-term investor is securely managed to address any longer term impacts.
LGPS Scheme members can therefore be assured that both their contributions and their pension, whether in payment or built up to date, will be unaffected.