Briefing note: five ways to maintain control of your LGPS funding risks

With the 2025 valuations in England and Wales complete, it may be tempting to pause until preparations begin for 2028. But the post valuation environment brings emerging funding risks that need early attention, proactive planning, and sustained engagement with employers. 

Our briefing note explores the importance of maintaining momentum after the 2025 valuation. We also identify five key priority areas for 2026/207, including: 

• Academy consolidation - The government’s ‘Access and Protections’ consultation proposes that academy employers can consolidate their pension liabilities within a single LGPS fund. This presents one of the most significant actuarial risks for many funds in 2026/27.
• Local government reorganisation (LGR) - Several funds are progressing through various stages of local government reorganisation, with new unitary authorities expected to come into effect in 2028 (mainly).
• The ‘actuarial solstice’ (September 2026) - On 30 September 2026, funds reach the midpoint between valuation dates, 18 months after 31 March 2025 and 18 months before 31 March 2028. This is an ideal point to reassess funding positions and to project forward to 2028 using updated market, membership and assumption information. 
• Gender pensions gap insights and employer engagement - For the first time, the 2025 valuation required funds to comment on the gender pensions gap within their membership.
• Governance, knowledge and skills (particularly for new councillors) - Following the recent local elections, new councillors are expected to be joining pension committees. There will be a growing demand for high quality training and robust governance support. The government has set clear expectations for knowledge standards across all committee members (including those already in place).

Download the Briefing note

To discuss these priorities and other risks to monitor in 2026/2027, please get in touch.  

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