Every three years an actuarial valuation is undertaken for defined benefit (DB) pension schemes such as ​CARE. This is required by legislation.
The valuation compares the Scheme's assets to the estimated cost of the benefits that have been earned, known as liabilities. If the assets are less than the liabilities then a recovery plan needs to be agreed to provide additional contributions from participating employers.
The valuation involves assessing the employer covenant, the financial support provided to the scheme by the participating employers, which is an important factor in determining the assumptions used in the calculation of the liabilities.
2025 Valuation
The next valuation date is 30 September 2025. We will provide an update to the Employers during Q2 2026. If you have any questions about the valuation please get in touch with the Client Relations team at clientrelations@tpt.co.uk.