This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

CIPFA consults on guidance for the preparation and publication of the annual pension fund report

  • Public Sector Accounting Image
  • Book badge (green) Image

21 May 2014

The Chartered Institute of Public Finance and Accountancy (CIPFA) has published a consultation on guidance to assist administering authorities and others with the preparation and publication of the annual pension fund report (“the guidance”). Comments are invited until 4 July 2014.

The guidance was originally prepared by a specially convened CIPFA/PRAG (Pensions Research Accountants Group) joint working party and has since been updated and amended by the CIPFA Pensions Panel, working with a working party established by the Shadow LGPS Advisory Board. 

The annual pension fund report is required by Regulation 34 of the Local Government Pension Scheme (Administration) Regulations 2008 and in Scotland, Regulation 31A of the Local Government Pension Scheme (Administration) (Scotland) Regulations 2008.  For reporting periods beginning 1 April 2014 and beyond, the statutory requirement in England and Wales can be found at Regulation 57 of The Local Government Pension Scheme Regulations 2013.

The guidance “represents a general framework for pension fund administering authorities to meet their statutory obligation to prepare and publish an annual report for the pension fund”.  The guidance highlights topics to be covered in each section of the annual report but does not prescribe the format or layout in which the information is to be presented. 

The guidance covers:

  • The Management and Financial Performance Report;
  • The Investment Policy and Performance Report;
  • The Scheme Administration Report;
  • The Actuarial Report on Funds;
  • The Governance and Compliance Statement;
  • The Fund Account, Net Assets Statement and Notes;
  • The Pensions Administration Strategy Report;
  • The Funding Strategy Statement;
  • The Statement of Investment Principles;
  • The Communications Policy Statement; and
  • Any other information funds may wish to include. 

The press release and full consultation can be accessed from the CIPFA website.

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.