The pension triennial valuation has now been finalised and approved by Pension Committee, and the new employer rates have been set for the period 1 April 2026 to 31 March 2029.
The ill-health insurance premium rate remains at 1% for the same three-year period.
Please check the spreadsheet alongside this bulletin to see your new employer rate from April 2026. It gives the rates both with and without the 1% ill health insurance reduction in all cases.
For the Transferee Admission Bodies that joined after April 2019 and are marked with * in the “with ill-health insurance” column, please can you ensure that the insurance is taken out as this was a clause in the admission agreement. Until the insurance is in place, we expect you to pay the full rate.
For Employers with a nil rate, who also have ill-health insurance, please continue to pay your premium to Legal & General to insure against ill-health risks.
Implementing new rates
It is important that, where there are changes, these are implemented and that the correct amount is paid over to the administering authority. Failure to do so will be a breach of the Pensions Act and may lead to intervention by the Pensions Regulator.
Please ensure that these rates are shared with anybody within your organisation that may need to know them - this will include finance, payroll and HR staff and possibly other colleagues.
For LEA maintained schools, they must apply the same employer rate as the Council they belong to, for example Leicestershire County Council maintained schools will need to use 23.4% which is the same rate as Leicestershire County Council.
Any employer that does NOT have ill health insurance and is interested in obtaining a quote from the scheme actuary Hymans Robertson, should email their enquiry to ihli@hymans.co.uk.
If any employer has a query on their rate or are not listed on the spreadsheet, please email pensionsemployerliaison@leics.gov.uk as soon as possible.
Funding Strategy Statement
From November 2025 to 11th January 2026 the Fund consulted with employers on the Fund’s Funding Strategy Statement (FSS).
Thank you to all employers that contributed.
The Fund’s response to the consultation is attached as an appendix to this bulletin.
The Fund’s final FSS, applicable from the 1st April 2026, is also attached as an appendix to this bulletin.
