Member

Yet despite surpluses of this scale, employers continue to pay around £9 billion per year into the scheme. That gap cannot credibly be explained by aggressive assumptions or optimistic return forecasts. Even under highly prudent, low-risk assumptions, current contribution levels appear materially higher than is necessary to maintain solvency. We therefore need a wholesale consideration of where we now stand with these regulations and the consequences they are producing for councils, admitted bodies, taxpayers, Section 151 officers attempting to discharge their statutory duties and investment and growth across the country.