The Valuation process

Every three years, the Trustee undertakes a formal assessment of the Fund’s financial health. This is often referred to as the Actuarial Valuation, or Valuation for short.

The Fund’s Actuary compares the value of the Fund’s assets, with what it is expected to cost to provide all the benefits members have built up.

We share the results of these Valuations with you in our Summary Funding Statement. The latest one can be found in the ‘Library’ section of this website.

In the years in between the Valuations, the Actuary provides further updates to the Trustee, these are less involved than the formal Valuations, but help the Trustee to keep on top of the Fund’s financial position.