Authority

Actuary

Valuation Report
31st March 2022

Assets
(£m)

Liabilities
(£m)

Funding
level

Avon

Mercer

Valuation pdf

5,822

6,060

96%

Barking and Dagenham

Barnett Waddingham

Valuation pdf

1,317

1,306

101%

Barnet

Hymans

Valuation pdf

1,502

1,573

95%

Bedfordshire

Barnett Waddingham

Valuation pdf

2,950

3,220

92%

Berkshire

Barnett Waddingham

Valuation pdf

2,650

3,100

86%
Bexley

Mercer

Valuation pdf

1,053

927

114%

Brent

Hymans

Valuation pdf

1,134

1,296

87%

Bromley

Mercer

Valuation pdf

1,339

1,163

115%

Buckinghamshire

Barnett Waddingham

Valuation pdf

3,850

3,720

104%

Cambridgeshire

Hymans

Valuation pdf

4,305

3,446

125%

Camden

Hymans

Valuation pdf

1,973

1,741

113%

Cardiff

Aon

Valuation pdf

2,698

2,750

98%

Cheshire

Hymans

Valuation pdf

6,968

6,146

113%

City of London Corporation

Barnett Waddingham

Valuation pdf

1,370

1,404

98%

City of Westminster

Hymans

Valuation pdf

1,876

1,466

128%

Clwyd

Mercer

Valuation pdf

2,491

2,366

105%

Cornwall

Hymans

Valuation pdf

2,363

2,463

96%

Croydon

Hymans

Valuation pdf

1,731

1,790

97%

Cumbria

Mercer

Valuation pdf

3,318

3,009

110%

Derbyshire

Hymans

Valuation pdf

6,131

6,132

 100%

Devon

Barnett Waddingham

Valuation pdf

5,320

5,400

98%

Dorset

Barnett Waddingham

Valuation pdf

3,640

3,780

96%

Durham

Aon

Valuation pdf

3,606

3,699

98%

Dyfed

Mercer

Valuation pdf

3,243

2,871

113%

Ealing

Mercer

Valuation pdf

1,546

1,617

96%

East Riding

Hymans

Valuation pdf

6,263

5,220

120%

East Sussex

Hymans

Valuation pdf

4,618

3,760

123%

Enfield

Aon

Valuation pdf

1,523

1,470

104%

Environment Agency - active

Hymans

Valuation pdf

4,548

4,394

103%

Environment Agency - closed*

Hymans

Valuation pdf

329

491

67%

Essex

Barnett Waddingham

Valuation pdf

8,100

7,920

102%

Gloucestershire

Hymans

Valuation pdf

3,111

2,826

110%

Greater Gwent (Torfaen)

Hymans

Valuation pdf

3,768

3,886

97%

Greater Manchester

Hymans

Valuation pdf

29,324

28,304

104%

Greenwich

Barnett Waddingham

Valuation pdf

1,610

1,570

103%

Gwynedd

Hymans

Valuation pdf

2,776

2,308

120%

Hackney

Hymans

Valuation pdf

1,965

1,861

106%

Hammersmith and Fulham

Barnett Waddingham

Valuation pdf

1,325

1,267

105%

Hampshire

Aon

Valuation pdf

9,628

8,991

107%

Haringey

Hymans

Valuation pdf

1,803

1,596

113%

Harrow

Hymans

Valuation pdf

1,018

1,057

96%

Havering

Hymans

Valuation pdf

920

1,149

80%

Hertfordshire

Hymans

Valuation pdf

6,162

5,793

106%

Hillingdon

Hymans

Valuation pdf

1,263

1,430

88%

Hounslow

Barnett Waddingham

Valuation pdf

1,230

1,170

104%

Isle of Wight

Hymans

Valuation pdf

728

714

102%

Islington

Mercer

Valuation pdf

1,787

1,866 96%
Kensington and Chelsea

Hymans

Valuation pdf

1,631

1,060

154%

Kent

Barnett Waddingham

Valuation pdf

7,555

7,374

102%

Kingston upon Thames

Hymans

Valuation pdf

1,126

1,014

111%

Lambeth

Hymans

Valuation pdf

1,842

1,920

96%

Lancashire

Mercer

Valuation pdf

10,712

9,317

115%

Leicestershire

Hymans

Valuation pdf

5,790

5,507

105%

Lewisham

Hymans

Valuation pdf

1,748

1,804

97%

Lincolnshire

Barnett Waddingham

Valuation pdf

3,010

2,990

101%

London Pensions Fund Authority

Barnett Waddingham

Valuation pdf

7,530

5,900

128%

Merseyside

Mercer

Valuation pdf

11,001

10,370

106%

Merton

Barnett Waddingham

Valuation pdf

941

840

109%

Newham

Barnett Waddingham

Valuation pdf

1,675

1,671

100%

Norfolk

Hymans

Valuation pdf

 4,901

 4,613

106% 

North Yorkshire

Aon

Valuation pdf

4,635

3,995

116%

Northamptonshire

Hymans

Valuation pdf

3,364

2,984

113%

Nottinghamshire

Barnett Waddingham

Valuation pdf

6,498

6,489

100%

Oxfordshire

Hymans

Valuation pdf

3,280

2,951

111%

Powys

Aon

Valuation pdf

823

818

99%

Redbridge

Hymans

Valuation pdf

1,010

1,021

99%

Rhondda Cynon Taf

Aon

Valuation pdf

4,512

4,291

105%

Shropshire

Mercer

Valuation pdf

1,915

2,047

94%
Somerset

Barnett Waddingham

Valuation pdf

2,780

2,910

95%

South Yorkshire

Hymans

Valuation pdf

10,674

8,988

119%

Southwark

Aon

Valuation pdf

2,125

1,948

109%

Staffordshire

Hymans

Valuation pdf

 6,833

 5,696

 120%

Suffolk

Hymans

Valuation pdf

3,756

3,522

107%

Surrey

Hymans

Valuation pdf

5,358

5,257

102%

Sutton

Hymans

Valuation pdf

854

848

101%

Swansea

Aon

Valuation pdf

2,921

2,924

100%

Teesside

Hymans

Valuation pdf

5,036

4,351

116%

Tower Hamlets

Hymans

Valuation pdf

2,023

1,651

123%

Tyne and Wear

Aon

Valuation pdf

12,747

11,551

110%

Waltham Forest

Mercer

Valuation pdf

1,048

1,293

81%
Wandsworth

Barnett Waddingham

Valuation pdf

2,540

2,190

116%

Warwickshire

Hymans

Valuation pdf

2,782

2,683

104%

West Midlands

Hymans

Valuation pdf

20,334

19,655

103%

West Sussex

Hymans

Valuation pdf

5,501

4,402

125%

West Yorkshire

Aon

Valuation pdf

17,980

16,573

109%

Wiltshire

Hymans

Valuation pdf

3,230

3,149

103%

Worcestershire

Mercer

Valuation pdf

3,585

3,562

101%

*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.