Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Housing, Communities and Local Government, whether his Department has conducted a risk assessment of the proposed move from a triennial to a quadrennial cycle for local fund valuations of the Local Government Pension Scheme.

The Government is determined that lengthening the period between valuation cycle should not materially increase the risks that pension funds and their employers face. That is why alongside the proposal in lengthen the valuation cycle we are also consulting on additional tools for administering authorities to be able to manage risk, and particularly employer risk, between valuations.