Authority

Actuary

Valuation Report
31st March 2013

Assets
(£m)

Liabilities
(£m)

Funding
level

Avon

Mercer

Valuation pdf, 52 pgs, 544.56 kb

2,459

3,011

81.7%

Barking and Dagenham

Hymans Robertson

Valuation pdf, 45 pgs, 110.51 kb

549

729

75.3%

Barnet

Barnett Waddingham

Valuation pdf, 36 pgs, 611.22 kb

610

799

76.3%

Bedfordshire

Hymans Robertson

Valuation pdf, 48 pgs, 641.46 kb

1,168

1,618

72.2%

Berkshire

Barnett Waddingham

Valuation pdf, 42 pgs, 1,083.93 kb

1,308

1,618

80.8%

Bexley

Mercer

Valuation pdf, 44 pgs, 249.12 kb

448

517

86.7%

Brent

Aon Hewitt

Valuation pdf, 50 pgs, 303.04 kb

457

751

60.9%

Bromley

Barnett Waddingham

Valuation pdf, 36 pgs, 820.83 kb

429

511

84.0%

Buckinghamshire

Barnett Waddingham

Valuation pdf, 44 pgs, 901.37 kb

1,322

1,671

79.1%

Cambridgeshire

Hymans Robertson

Valuation pdf, 52 pgs, 706.99 kb

1,494

2,048

72.9%

Camden

Hymans Robertson

Valuation pdf, 49 pgs, 636.99 kb

877

1,154

76.0%

Cardiff and Vale of Glamorgan

Aon Hewitt

Valuation pdf, 50 pgs, 327.16 kb

1,031

1,462

70.5%

Cheshire

Hymans Robertson

Valuation pdf, 51 pgs, 1,234.49 kb

2,577

3,177

81.1%

City of London Corporation

Barnett Waddingham

Valuation pdf, 32 pgs, 625.57 kb

549

641

85.7%

City of Westminster

Aon Hewitt

Valuation pdf, 50 pgs, 325.42 kb

670

909

73.8%

Clwyd

Mercer

Valuation pdf, 48 pgs, 500.81 kb

956

1,332

71.8%

Cornwall

Hymans Robertson

Valuation pdf, 50 pgs, 631.08 kb

1,041

1,330

78.3%

Croydon

Mercer

Valuation pdf, 43 pgs, 468.98 kb

583

884

66.0%

Cumbria

Mercer

Valuation pdf, 48 pgs, 516.03 kb

1,278

1,609

79.4%

Derbyshire

Mercer

Valuation pdf, 48 pgs, 748.23 kb

2,409

2,967

81.2%

Devon

Barnett Waddingham

Valuation pdf, 42 pgs, 1,117.18 kb

2,327

2,857

81.4%

Dorset

Barnett Waddingham

Valuation pdf, 42 pgs, 1,134.95 kb

1,402

1,777

78.9%

Durham

Aon Hewitt

Valuation pdf, 54 pgs, 9,924.23 kb

1,682

2,101

80.1%

Dyfed

Mercer

Valuation pdf, 48 pgs, 499.40 kb

1,234

1,363

90.5%

Ealing

   

610

868

70.3%

East Riding

Hymans Robertson

Valuation pdf, 52 pgs, 651.88 kb

2,302

3,110

74.0%

East Sussex

Hymans Robertson

Valuation pdf, 49 pgs, 652.96 kb

1,869

2,141

87.3%

Enfield

Aon Hewitt

Valuation pdf, 50 pgs, 312.39 kb

570

698

81.7%

Environment Agency - active

Hymans Robertson  Valuation pdf, 51 pgs, 554.63 kb

1,589

1,684

94.4%

Environment Agency - closed* Hymans Robertson Valuation pdf, 50 pgs, 552.42 kb  

125

906

13.8%

Essex

Mercer

Valuation pdf, 56 pgs, 542.60 kb

3,085

4,319

71.4%

Gloucestershire

Hymans Robertson

Valuation pdf, 51 pgs, 651.09 kb

1,054

1,498

70.4%

Greater Gwent (Torfaen)

Mercer

Valuation pdf, 46 pgs, 150.25 kb

1,512

2,042

74.0%

Greater Manchester

Hymans Robertson

Valuation pdf, 66 pgs, 1,230.44 kb

10,445

10,835

96.4%

Greenwich

Barnett Waddingham

Valuation pdf, 34 pgs, 561.61 kb

702

824

85.3%

Gwynedd

Hymans Robertson

Valuation pdf, 48 pgs, 1,091.71 kb

930

1,114

83.5%

Hackney

Hymans Robertson

Valuation pdf, 47 pgs, 687.86 kb

729

1,108

65.8%

Hammersmith and Fulham

Barnett Waddingham

Valuation pdf, 35 pgs, 667.91 kb

532

718

74.1%

Hampshire

Aon Hewitt

Valuation pdf, 60 pgs, 1,014.88 kb

3,238

4,497

72.0%

Haringey

Hymans Robertson

Valuation pdf, 48 pgs, 625.74 kb

664

960

69.2%

Harrow

Hymans Robertson

Valuation pdf, 46 pgs, 642.51 kb

436

593

73.5%

Havering

Hymans Robertson

Valuation pdf, 46 pgs, 626.66 kb

361

589

61.3%

Hertfordshire

Hymans Robertson

Valuation pdf, 52 pgs, 1,351.14 kb

2,194

2,951

74.3%

Hillingdon

Hymans Robertson

Valuation pdf, 48 pgs, 654.88 kb

564

728

77.6%

Hounslow

Barnett Waddingham Valuation pdf, 33 pgs, 560.60 kb

509

628

81.0%

Isle of Wight

Hymans Robertson

Valuation pdf, 46 pgs, 436.51 kb

296

393

75.3%

Islington

Mercer

Valuation pdf, 47 pgs, 472.15 kb

733

1,016

72.1%

Kensington and Chelsea

Barnett Waddingham

Valuation pdf, 33 pgs, 540.70 kb

451

509

88.6%

Kent

Barnett Waddingham

Valuation pdf, 55 pgs, 1,485.48 kb

2,780

3,623

76.7%

Kingston upon Thames

Aon Hewitt

Valuation pdf, 50 pgs, 325.64 kb

385

530

72.6%

Lambeth

Hymans Robertson

Valuation pdf, 48 pgs, 5,599.47 kb

765

1,055

72.5%

Lancashire

Mercer

Valuation pdf, 53 pgs, 503.33 kb

3,962

4,955

80.0%

Leicestershire

Hymans Robertson

Valuation pdf, 51 pgs, 1,121.87 kb

2,111

2,640

80.0%

Lewisham

Hymans Robertson

Valuation pdf, 46 pgs, 0.00 kb

715

949

75.3%

Lincolnshire

Hymans Robertson

Valuation pdf, 51 pgs, 654.44 kb

1,204

1,585

76.0%

London Pensions Fund Authority
(Active sub fund)

Barnett Waddingham

Valuation pdf, 46 pgs, 1,382.08 kb

2,417

2,897

83.4%

London Pensions Fund Authority
(Pensioner sub fund)

   

1,300

1,689

76.9%

Merseyside

Mercer

Valuation pdf, 53 pgs, 531.40 kb

4,706

6,016

78.2%

Merton

Barnett Waddingham

Valuation pdf, 34 pgs, 574.97 kb

344

411

83.7%

Newham

Barnett Waddingham

Valuation pdf, 34 pgs, 589.40 kb

637

887

71.8%

Norfolk

Hymans Robertson

Valuation pdf, 52 pgs, 1,176.50 kb

1,936

2,422

79.9%

North Yorkshire

Mercer

Valuation pdf, 48 pgs, 163.99 kb

1,345

2,004

67.1%

Northamptonshire

Hymans Robertson

Valuation pdf, 51 pgs, 650.41 kb

1,206

1,651

73.0%

Northumberland

Aon Hewitt

Valuation pdf, 51 pgs, 343.15 kb

719

922

78.0%

Nottinghamshire

Barnett Waddingham

Valuation pdf, 41 pgs, 835.36 kb

2,637

3,158

83.5%

Oxfordshire

Barnett Waddingham

Valuation pdf, 38 pgs, 794.70 kb

1,079

1,367

79.0%

Powys

Aon Hewitt

Valuation pdf, 49 pgs, 322.96 kb

324

453

71.4%

Redbridge

Hymans Robertson

Valuation pdf, 45 pgs, 624.63 kb

397

560

70.9%

Rhondda Cynon Taf

   

1,569

2,241

70.0%

Richmond    

393

491

80.1%

Shropshire

Mercer

Valuation pdf, 49 pgs, 485.17 kb

951

1,177

80.8%

Somerset

Barnett Waddingham

Valuation pdf, 37 pgs, 894.05 kb

1,068

1,390

76.9%

South Yorkshire

Mercer

Valuation pdf, 62 pgs, 516.25 kb

4,076

5,161

79.0%

South Yorkshire Passenger Transport

Barnett Waddingham

Valuation pdf, 29 pgs, 2,648.47 kb

158

185

85.6%

Southwark

Aon Hewitt

Valuation pdf, 50 pgs, 329.15 kb

789

1,011

78.0%

Staffordshire

Hymans Robertson

Valuation pdf, 50 pgs, 1,130.01 kb

2,435

3,257

74.8%

Suffolk

Hymans Robertson

Valuation pdf, 49 pgs, 1,130.01 kb

1,415

1,721

82.2%

Surrey

Hymans Robertson

Valuation pdf, 53 pgs, 666.49 kb

1,944

2,699

72.0%

Sutton

Hymans Robertson

Valuation pdf, 48 pgs, 662.64 kb

337

490

68.8%

Swansea

Aon Hewitt

Valuation pdf, 50 pgs, 332.20 kb

1,017

1,336

76.1%

Teesside

Barnett Waddingham

Valuation pdf, 40 pgs, 966.28 kb

2,233

2,250

99.2%

Tower Hamlets

Hymans Robertson

 

755

1,060

71.0%

Tyne and Wear

Aon Hewitt

Valuation pdf, 58 pgs, 360.25 kb

4,305

5,436

79.2%

Waltham Forest

Mercer

Valuation pdf, 46 pgs, 502.27 kb

480

798

60.2%

Wandsworth

   

769

844

91.1%

Warwickshire

Mercer

Valuation pdf, 50 pgs, 490.27 kb

1,099

1,328

82.8%

West Midlands

Mercer

Valuation pdf, 61 pgs, 559.46 kb

8,008

10,622

75.4%

West Midlands Passenger Transport

Mercer

Valuation pdf, 44 pgs, 461.07 kb

382

453

84.3%

West Sussex

Hymans Robertson

Valuation pdf, 54 pgs, 666.97 kb

1,759

2,047

85.9%

West Yorkshire

   

7,942

8,540

93.0%

Wiltshire

Hymans Robertson

Valuation pdf, 48 pgs, 637.30 kb

1,167

1,563

74.7%

Worcestershire

Mercer

Valuation pdf, 47 pgs, 476.59 kb

1,366

1,979

69.0%

Total**

   

141,621

178,512

79.0%

*Environment Agency - closed fund.  Since the Closed Fund has no contribution income, the Government has accepted that under Section 173 of the Water Act 1989 it has a statutory obligation to ensure that the Closed Fund can always meet its pensions and other related liabilities.
**Since the The Environment Agency - closed fund is unique in its funding within the LGPS, its assets and liabilities have not been included in the scheme funding level calculation.