Fund Valuations 2025
| Authority | Actuary | Valuation Report 2025 | Assets (£m) | Liabilities (£m) | Funding level |
|---|---|---|---|---|---|
| Avon | Mercer | Avon — 2025 Fund Valuation | 5,787 | 5,448 | 106% |
| Barking and Dagenham | Barnett Waddingham | Barking and Dagenham - 2025 Fund Valuation | 1,565 | 1,454 | 108% |
| Barnet | Hymans | Barnet - 2025 Fund Valuation | 1,716 | 1,320 | 130% |
| Bedfordshire | Barnett Waddingham | Bedfordshire - 2025 Fund Valuation | 3,722 | 3,664 | 102% |
| Berkshire | Barnett Waddingham | Berkshire - 2025 Fund Valuation | 3,211 | 3,729 | 86% |
| Bexley | Mercer | Bexley — 2025 Fund Valuation | 1,036 | 874 | 119% |
| Brent | Hymans | Brent - 2025 Fund Valuation | 1,313 | 1,162 | 113% |
| Bromley | Mercer | Bromley - 2025 Fund Valuation | 1,489 | 985 | 151% |
| Buckinghamshire | Barnett Waddingham | Buckinghamshire - 2025 Fund Valuation | 4,379 | 4,259 | 103% |
| Cambridgeshire | Hymans | Cambridgeshire - 2025 Fund Valuation | 4,890 | 3,332 | 147% |
| Camden | Hymans | Camden - 2025 Fund Valuation | 2,171 | 1,598 | 136% |
| Cardiff | Aon | Cardiff - 2025 Fund Valuation | 3,088 | 2,773 | 111% |
| Cheshire | Hymans | Cheshire - 2025 Fund Valuation | 6,701 | 4,920 | 136% |
| City of London Corporation | Barnett Waddingham | City of London - 2025 Fund Valuation | 1,551 | 1,609 | 96% |
| City of Westminster | Hymans | City of Westminster - 2025 Fund Valuation | 2,104 | 1,506 | 140% |
| Clwyd | Mercer | Clwyd — 2025 Fund Valuation | 2,446 | 2,200 | 111% |
| Cornwall | Hymans | Cornwall - 2025 Fund Valuation | 2,526 | 2,132 | 118% |
| Croydon | Hymans | Croydon - 2025 Fund Valuation | 1,963 | 1,483 | 132% |
| Cumbria | Mercer | Cumbria - 2025 Fund Valuation | 3,476 | 2,804 | 124% |
| Derbyshire | Hymans | Derbyshire - 2025 Fund Valuation | 6,694 | 4,961 | 135% |
| Devon | Barnett Waddingham | Devon - 2025 Fund Valuation | 6,231 | 6,223 | 100% |
| Dorset | Barnett Waddingham | Dorset - 2025 Fund Valuation | 4,173 | 4,273 | 98% |
| Durham | Aon | Durham - 2025 Fund Valuation | 3,759 | 3,831 | 98% |
| Dyfed | Mercer | Dyfed - 2025 Fund Valuation | 3,575 | 2,786 | 128% |
| Ealing | Mercer | Ealing - 2025 Fund Valuation | 1,714 | 1,532 | 112% |
| East Riding | Hymans | East Riding - 2025 Fund Valuation | 7,060 | 4,573 | 154% |
| East Sussex | Barnett Waddingham | East Sussex - 2025 Fund Valuation | 5,071 | 4,325 | 117% |
| Enfield | Hymans | Enfield - 2025 Fund Valuation | 1,605 | 1,268 | 127% |
| Environment Agency - active | Hymans | Environment Agency - Active - 2025 Fund Valuation | 4,764 | 3,338 | 143% |
| Environment Agency - closed* | Hymans | Environment Agency - Closed - 2025 Fund Valuation | 240 | 300 | 80% |
| Essex | Barnett Waddingham | Essex - 2025 Fund Valuation | 9,944 | 9,178 | 108% |
| Gloucestershire | Hymans | Gloucestershire - 2025 Fund Valuation | 3,590 | 2,355 | 152% |
| Greater Gwent (Torfaen) | Hymans | Greater Gwent - 2025 Fund Valuation | 4,449 | 3,314 | 134% |
| Greater Manchester | Hymans | Greater Manchester - 2025 Fund Valuation | 32,200 | 25,150 | 128% |
| Greenwich | Hymans | Greenwich - 2025 Fund Valuation | 1,755 | 1,483 | 118% |
| Gwynedd | Hymans | Gwynedd - 2025 Fund Valuation | 3,232 | 1,946 | 166% |
| Hackney | Hymans | Hackney - 2025 Fund Valuation | 2,120 | 1,539 | 138% |
| Hammersmith and Fulham | Hymans | Hammersmith - 2025 Fund Valuation Pension Fund) | 1,413 | 1,252 | 113% |
| Hampshire | Hymans | Hampshire - 2025 Fund Valuation | 10,216 | 7,891 | 129% |
| Haringey | Hymans | Haringey - 2025 Fund Valuation | 1,933 | 1,391 | 139% |
| Harrow | Hymans | Harrow - 2025 Fund Valuation | 1,077 | 999 | 108% |
| Havering | Hymans | Havering - 2025 Fund Valuation | 1,008 | 995 | 101% |
| Hertfordshire | Barnett Waddingham | Hertfordshire - 2025 Fund Valuation | 6,525 | 5,816 | 112% |
| Hillingdon | Hymans | Hillingdon - 2025 Fund Valuation | 1,410 | 1,199 | 118% |
| Hounslow | Barnett Waddingham | Hounslow - 2025 Fund Valuation | 1,387 | 1,327 | 105% |
| Isle of Wight | Hymans | Isle of Wight - 2025 Fund Valuation | 810 | 543 | 149% |
| Islington | Mercer | Islington - 2025 Fund Valuation | 2,038 | 1,822 | 112% |
| Kensington and Chelsea | Hymans | Kensington and Chelsea - 2025 Fund Valuation | 1,829 | 1,048 | 175% |
| Kent | Barnett Waddingham | Kent - 2025 Fund Valuation | 8,595 | 8,259 | 104% |
| Kingston upon Thames | Hymans | Kingston upon Thames - 2025 Fund Valuation | 1,294 | 944 | 137% |
| Lambeth | Hymans | Lambeth - 2025 Fund Valuation | 1,800 | 1,504 | 120% |
| Lancashire | Mercer | Lancashire - 2025 Fund Valuation | 11,974 | 8,938 | 134% |
| Leicestershire | Hymans | Leicestershire - 2025 Fund Valuation | 6,698 | 4,785 | 140% |
| Lewisham | Hymans | Lewisham - 2025 Fund Valuation | 1,882 | 1,581 | 119% |
| Lincolnshire | Barnett Waddingham | Lincolnshire - 2025 Fund Valuation | 3,612 | 3,290 | 110% |
| London Pensions Fund Authority | Barnett Waddingham | LPFA - 2025 Fund Valuation | 8,230 | 6,860 | 120% |
| Merseyside | Mercer | Merseyside - 2025 Fund Valuation | 10,961 | 9,469 | 116% |
| Merton | Barnett Waddingham | Merton - 2025 Fund Valuation | 971 | 921 | 105% |
| Newham | Barnett Waddingham | Newham - 2025 Fund Valuation | 1,973 | 1,935 | 102% |
| Norfolk | Hymans | Norfolk - 2025 Fund Valuation | 5,499 | 4,267 | 129% |
| North Yorkshire | Aon | North Yorkshire - 2025 Fund Valuation | 4,753 | 3,955 | 120% |
| Northamptonshire | Hymans | Northamptonshire - 2025 Fund Valuation | 3,738 | 2,696 | 139% |
| Nottinghamshire | Barnett Waddingham | Nottinghamshire - 2025 Fund Valuation | 7,389 | 7,499 | 99% |
| Oxfordshire | Hymans | Oxfordshire - 2025 Fund Valuation | 3,650 | 2,824 | 129% |
| Powys | Aon | Powys - 2025 Fund Valuation | 862 | 833 | 103% |
| Redbridge | Hymans | Redbridge - 2025 Fund Valuation | 1,055 | 861 | 122% |
| Rhondda Cynon Taf | Aon | Rhondda Cynon Taf - 2025 Fund Valuation | 4,787 | 4,206 | 114% |
| Shropshire | Mercer | Shropshire - 2025 Fund Valuation | 2,626 | 2,291 | 115% |
| Somerset | Barnett Waddingham | Somerset - 2025 Fund Valuation | 3,327 | 3,354 | 99% |
| South Yorkshire | Hymans | South Yorkshire - 2025 Fund Valuation | 11,112 | 7,818 | 142% |
| Southwark | Aon | Southwark - 2025 Fund Valuation | 2,261 | 2,059 | 110% |
| Staffordshire | Hymans | Staffordshire - 2025 Fund Valuation | 7,758 | 4,995 | 155% |
| Suffolk | Hymans | Suffolk - 2025 Fund Valuation | 4,471 | 2,952 | 151% |
| Surrey | Hymans | Surrey - 2025 Fund Valuation | 6,089 | 4,580 | 133% |
| Sutton | Hymans | Sutton - 2025 Fund Valuation | 979 | 862 | 114% |
| Swansea | Aon | Swansea - 2025 Fund Valuation | 3,476 | 2,857 | 122% |
| Teesside | Hymans | Teesside - 2025 Fund Valuation | 5,609 | 3,983 | 141% |
| Tower Hamlets | Hymans | Tower Hamlets - 2025 Fund Valuation | 2,192 | 1,693 | 129% |
| Tyne and Wear | Aon | Tyne and Wear - 2025 Fund Valuation | 13,529 | 11,311 | 120% |
| Waltham Forest | Mercer | Waltham Forest - 2025 Fund Valuation | 1,091 | 1,222 | 89% |
| Wandsworth | Barnett Waddingham | Wandsworth - 2025 Fund Valuation | 2,892 | 2,390 | 121% |
| Warwickshire | Hymans | Warwickshire - 2025 Fund Valuation | 3,095 | 2,342 | 132% |
| West Midlands | Hymans | West Midland - 2025 Fund Valuation | 21,368 | 17,037 | 125% |
| West Sussex | Hymans | West Sussex - 2025 Fund Valuation | 5,873 | 3,629 | 162% |
| West Yorkshire | Aon | West Yorkshire - 2025 Fund Valuation | 19,969 | 17,693 | 113% |
| Wiltshire | Barnett Waddingham | Wiltshire - 2025 Fund Valuation | 3,514 | 3,315 | 106% |
| Worcestershire | Hymans | Worcestershire - 2025 Fund Valuation | 4,016 | 3,163 | 127% |
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