Funding Strategy Statement (FSS)
Councils are discussing reduced employer pension contributions following improved fund valuations.
Local councils are currently discussing reduced employer contributions to pension funds, following significant improvements in actuarial valuations. In April 2026, Lambeth's Pensions Board discussed a 120% funding level, up from 96% in 2022, leading to reduced employer contribution rates. Harrow's Pension Fund Committee was presented with a valuation in March 2026 projecting a fall in employer contribution rates from 22% to 17.5% of pay from April 2026, after reaching 108% funded.
Barking and Dagenham Council's pension fund also reached a 108% funding level in March 2026, with assets exceeding liabilities by £0.11bn. These improvements are attributed to higher investment returns and favourable market conditions. A Funding Strategy Statement (FSS) is a document outlining how a pension fund aims to meet its liabilities, balancing solvency with stable employer contributions.
Key facts
- Harrow Pension Fund's average employer contribution rate is projected to fall from 22% to 17.5% of pay from April 1, 2026. Source
- Barking and Dagenham Council's pension fund reached a 108% funding level as of March 31, 2025. Source
- Harrow Pension Fund reached 108% funded at its 2025 valuation, presented in March 2026. Source
- Barking and Dagenham's fund holds assets exceeding liabilities by £0.11bn as of March 31, 2025. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 1 October 2026. Spotted a mistake? Email community@opencouncil.network.